ebix.com to Make Appeal to NASDAQ
ebix.com Inc. will appeal a NASDAQ staff determination that the company should be delisted for failure to comply with NASDAQ requirements. The appeal will stay the delisting pending the decision of a NASDAQ Listing Qualifications Panel that is expected to hear the appeal in May.
The company believes that its previously announced $7 million funding agreement with BRIT Insurance Holdings will provide it with a reasonable buffer beyond the NASDAQ minimum net tangible assets requirement of $2 million.
Among other things, the agreement provides for BRIT to make cash equity investments of $2.8 million and $4.2 million in two closings expected in mid-April and June of 2001, respectively.
Popular Today
- Cracks in O’Hare Columns Aren’t Insured Property Damage, Just Bad Product – Court
- Biden Vetoes Bid to Repeal US Labor Board Rule on Contract, Franchise Workers
- Berkshire’s Jain on Cyber: ‘The Mindset Should Be You’re Not Making Money’
- Insurer Chubb Readies $350M Payout Tied to Baltimore Bridge Collapse