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Item 8.01 Other Events.
Viewbix, Inc. (the “Company”) hereby updates that on March 27, 2025, a petition was filed with the District Court of Tel Aviv-Jaffa (the “Petition”) for a court order to commence insolvency proceedings under the Insolvency and Economic Rehabilitation Law, 5778 – 2018, against Gix Media Ltd. (“Gix Media”), a company incorporated under the laws of the State of Israel and a wholly-owned subsidiary of the Company.
The Petition was filed by a primary service provider of Gix Media (the “Service Provider”), claiming that Gix Media owes it approximately $260,000 (excluding linkage differentials and interest) and that Gix Media is unable to repay its debts to the Service Provider. As part of the Petition, the court was requested to appoint a trustee for Gix Media to implement insolvency proceedings, to vest its assets for the sole purpose of paying past debts and expenses of the insolvency proceedings, and to freeze all legal proceedings against it, if any.
As of March 31, 2025, Gix Media has outstanding loans from a banking corporation, as further detailed in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 21, 2025. Due to the filing of the Petition, and in accordance with the terms of the loans, the banking corporation may demand the immediate repayment of the loans.
The legal proceedings regarding the Petition are at a preliminary stage, where a hearing has not yet been held and Gix Media’s response has not yet been filed and the Company cannot currently assess the likelihood of success of the Petition and its effects on the Company’s business.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Viewbix Inc. | ||
| By: | /s/ Amihay Hadad | |
| Name: | Amihay Hadad | |
| Title: | Chief Executive Officer | |
Date: March 31, 2025