New Issue: Ebix to raise $11.04 million in two private placements of shares

By Devika Patel

Knoxville, Tenn., April 14 - Ebix, Inc. has negotiated two private placements of common stock to raise $11.04 million, according to an 8-K filed Monday with the Securities and Exchange Commission.

In the first deal, which priced April 2, the company plans to sell 40,000 shares at $75.70 per share to Rennes Foundation for $3.03 million.

In the second deal, Ebix will sell 110,000 shares at $72.87 per share to Ashford Capital Management, Inc. for $8.02 million. This deal was arranged on April 7.

Atlanta-based Ebix provides software for the insurance industry.

Issuer:	Ebix, Inc.
Issue:	Common stock
Amount:	$11,043,700
Warrants:	No
Stock symbol:	Nasdaq: EBIX
First deal
Amount:	$3,028,000
Shares:	40,000
Price:	$75.70
Investor:	Rennes Foundation
Pricing date:	April 2
Stock price:	$76.66 at close April 2
Second deal
Amount:	$8,015,700
Shares:	110,000
Price:	$72.87
Investor:	Ashford Capital Management, Inc.
Pricing date:	April 7
Stock price:	$75.36 at close April 7

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