Ebix, Inc. filed a motion in the US Bankruptcy Court for the sale of its certain assets on March 11, 2024. The debtor seeks the Court?s approval for the sale of its certain assets to the stalking horse bidder. The debtor?s assets include non-L&A assets, equity, and plan sponsorship rights.

To qualify as a qualified bidder, interested parties should submit their bids by May 1, 2024, along with good-faith deposit in the amount of 5% of the aggregate purchase price. The initial minimum overbid should be at least $0.25 million more than the initial purchase price. The debtor has scheduled an auction on May 8, 2024.

At the auction, the subsequent bids would be in increments of $0.25 million. The sale hearing is scheduled on May 14, 2024.