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FOXO Technologies Inc. operates healthcare-related subsidiaries that include a critical access acute care hospital, a behavioral health treatment business, a biotechnology subsidiary and Vector BioSource, a biospecimen and data sourcing provider for biotechnology, clinical research and pharmaceutical research customers.
Company news commonly covers clinical-capability additions at Big South Fork Medical Center, swing-bed and specialty-care arrangements, license and operating updates for Myrtle Recovery Centers, acquisition activity, capital-structure actions and trading-status developments for FOXO common stock on the OTC market.
FOXO Technologies (NYSE American: FOXO) has announced a special virtual shareholders meeting scheduled for January 17, 2025, at 10:30 AM EST. The meeting's primary purpose is to seek approval for several proposals, with shareholders of record as of January 3, 2025, eligible to vote.
The main proposal requires shareholder approval for the issuance of Class A Common Stock exceeding 20% of outstanding shares upon conversion of Series A Preferred Stock, and voting terms that may constitute a 'Change of Control' under NYSE American Rules. Additional proposals include potential meeting adjournment if needed to gather more proxies.
CEO Seamus Lagan emphasized that following the meeting, the company plans to focus on growing revenues from existing operations and exploring acquisition opportunities to accelerate growth and increase shareholder value. A Definitive Proxy Statement with detailed information was filed with the SEC on January 6, 2025.
FOXO Technologies Inc. (NYSE American: FOXO) has announced its 2024 Annual General Meeting of Shareholders, scheduled for December 31, 2024, at 9:30 am CST. The meeting will be conducted virtually via live webcast, with shareholders of record as of December 19, 2024, eligible to vote. CEO Seamus Lagan highlighted that FOXO has resolved all NYSE American listing deficiencies and acquired significant revenue-generating businesses. The company plans to hold an additional Special Meeting for other matters requiring shareholder approval. Management expressed optimism about their acquisition and growth strategy for 2025 and beyond.
FOXO Technologies has announced regaining compliance with NYSE American listing requirements by achieving stockholders' equity greater than $4M. This marks a significant turnaround from the company's $17.5M stockholders' deficit reported in September 2024. The improvement was achieved through several key transactions, including:
- Rennova Health's exchange of $21M Senior Secured Note for 21,000 shares of Series A Preferred Stock
- An institutional investor's $1M funding and $2.2M Senior Notes exchange for 2,464 Series A Preferred shares
- Settlement with KR8 AI through 3,000 shares of Series D Preferred Stock
- Conversion of $1M in liabilities to approximately 2M shares of Class A Common Stock
FOXO Technologies (NYSE American: FOXO) has announced major restructuring and capital raising transactions aimed at improving its balance sheet and meeting NYSE American listing requirements. Key transactions include Rennova Health's exchange of approximately $21 million of Senior Secured Notes for 21,000 shares of Series A Preferred Stock, an institutional investor's $1.0 million funding and exchange of $2.2 million of Senior Notes for 2,464 Series A Preferred shares, and settlement of KR8 liabilities for 3,000 Series D Preferred shares.
The company has appointed Seamus Lagan as CEO, who brings over 30 years of experience in startups and distressed companies. These transactions have collectively reduced liabilities and increased stockholders' equity by $26.4 million, potentially eliminating the risk of NYSE American delisting.
FOXO Technologies (NYSE American: FOXO) held a Special Meeting of Shareholders on November 29, 2024, with 93.859% shareholder participation. Shareholders approved six key proposals including: authorization for a potential reverse stock split (1:5 to 1:100 ratio), approval to issue shares for debt conversion of approximately $1.945M, authorization for a $5M equity line of credit with ClearThink Capital Partners, approval for share issuance related to a $2.8M Senior Notes agreement, and provisions for meeting adjournment and other matters.
FOXO Technologies Inc. (NYSE American: FOXO) has announced details for its Special Meeting of Shareholders scheduled for November 29, 2024, at 10:30 am EST. The virtual meeting follows the filing of its Definitive Proxy Statement with the SEC on November 15, 2024. Shareholders of record as of November 15, 2024, can vote either online at www.cstproxyvote.com or by attending the virtual meeting at https://www.cstproxy.com/foxotechnologies/2024. The Board of Directors requests shareholders to vote in favor of six Proposals listed on the Proxy Card. Interim CEO Mark White noted that both this Special Meeting and an Annual General Meeting need to be completed before year-end.
FOXO Technologies (NYSE American: FOXO) has announced details for its Special Meeting of Shareholders scheduled for November 29, 2024, at 10:30 am EST. The virtual meeting follows the filing of a Definitive Proxy Statement with the SEC on November 15, 2024. Shareholders of record as of November 15, 2024, can vote either online at www.cstproxyvote.com or by attending the virtual meeting at cstproxy.com/foxotechnologies/2024. The Board of Directors requests shareholders to vote in favor of six Proposals listed on the Proxy Card. Interim CEO Mark White noted that both this Special Meeting and an Annual General Meeting need to be completed before year-end.
FOXO Technologies Inc. (NYSE American: FOXO) has announced a Special Meeting of Shareholders scheduled for November 29, 2024. The meeting will address important proposals including: a potential reverse stock split ranging from 1:5 to 1:100 to maintain NYSE American listing requirements, approval for debt-to-equity conversion of approximately $1.945M, authorization for a $5M equity line of credit with ClearThink Capital Partners, and approval for issuance of shares related to a $2.5M debt funding agreement with an institutional investor. The meeting will be held virtually at 10:30 AM EST, with November 15, 2024, set as the record date for shareholder voting eligibility.
FOXO Technologies Inc. (NYSE American: FOXO) has provided a shareholder update on its 2024 accomplishments and future plans. The company has completed two acquisitions expected to deliver over $20 million in revenues in 2025, with plans to reach $50 million annually within 12-24 months. FOXO has expanded its financial management capabilities and is addressing NYSE listing deficiencies.
The company's focus remains on commercializing its epigenetic technology, having generated data for over 13,000 individuals and secured a patent for AI-driven health insights. FOXO plans to launch a direct-to-consumer prognostic for improving well-being and lifespan.
Recent acquisitions include Myrtle Recovery Centers, Inc., a behavioral health facility, and Scott County Community Hospital, Inc., a critical access hospital. The company is seeking new capital to expand these businesses and launch its epigenetic technology.
FOXO Technologies Inc. (NYSE American: FOXO) has completed the acquisition of two revenue-generating operations from Rennova Health, Inc. (OTC: RNVA). The acquisitions include Myrtle Recovery Centers, Inc., a behavioral health services subsidiary, and Rennova Community Health, Inc. (RCHI), owner of Scott County Community Hospital, Inc. (d/b/a Big South Fork Medical Center).
Key points:
- Expected to generate over $20M in annual revenue, with potential to reach $50M in 24 months
- RCHI acquisition involved $22M of intercompany Rennova debt and $100
- Myrtle Recovery Centers is a 30-bed behavioral health facility in East Tennessee
- Scott County Community Hospital is a critical access hospital with 2023 revenues of $18.5M and EBITDA over $6M
These acquisitions align with FOXO's strategy to improve healthcare and well-being while significantly boosting revenue.