Ebix to delay filing 10-Q

In a NT 10-Q filing yesterday, Ebix stated: “The Quarterly Report on Form 10-Q for the three months ended September 30, 2023 could not be filed within the prescribed time period without unreasonable effort or expense due to a delay experienced by the Company in completing its disclosures in the Quarterly Report. This delay principally relates to the Company’s ongoing negotiations and work required in relation to the Company’s Credit Facility, dated August 5, 2014 , and the Forbearance Agreement, dated September 29, 2023. The Credit Facility matured on September 30, 2023 and its currently in a forbearance period until November 15, 2023 under the terms of the Forbearance Agreement. The Company is in negotiations to extend the Forbearance Agreement beyond November 15, 2023 to improve Company’s financial position and for the Company to be able to continue as a going concern for at least the next twelve months. The substantial time and resources dedicated to the negotiations by the Company’s management and financial staff has directly impacted the Company’s ability to properly prepare and timely file its Quarterly Report. As a result, the Company is unable, without unreasonable effort or expense, to file its Quarterly within the prescribed time period. However, the Company plans to file its Quarterly Report no later than November 14, 2023, as prescribed in Rule 12b-25. The Company expects to report that its operating income will be less than the quarter ending June 30, 2023 due to certain expenses. The Company also expects that its net income will be adversely affected by non-operating costs associated with increased lender interest and adviser costs associated with negotiation of the Forbearance Agreement . The combined impact is expected to be approximately $7 million to $8 million.”