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Delwinds Insurance Acquisition Corp. (DWIN) has signed a Forward Share Purchase Agreement with Meteora Capital Partners for a potential acquisition of up to 3,000,000 shares of its Class A common stock. This agreement is tied to DWIN's forthcoming business combination with FOXO Technologies, expected to close post-stockholder approval on September 14, 2022. Concurrently, DWIN will hold a Special Meeting to seek shareholder consent for the Business Combination and an Extension Meeting to propose a three-month extension to finalize the merger. Stockholders are encouraged to vote.
Delwinds Insurance Acquisition Corp. (DWIN) announced on September 13, 2022, that it received redemption requests for 10,991,407 public shares, amounting to 99.5% of its outstanding public shares before the deadline. A Special Meeting of Stockholders is set for September 14, 2022, to approve a business combination with FOXO Technologies Inc. Additionally, an Extension Meeting will also be held on the same day to consider extending the deadline for the initial business combination from September 15 to December 15, 2022. Shareholders are encouraged to vote.
Delwinds Insurance Acquisition Corp. announced its upcoming transfer from the NYSE to NYSE American LLC. This transition will precede the anticipated business combination with FOXO Technologies Inc., expected to finalize around September 16, 2022. Delwinds' Class A Common Stock and Warrants will then trade under the symbols 'FOXO' and 'FOXO WS.' The company continues to file the same periodic reports with the SEC. Delwinds encourages stockholders to review detailed information regarding the business combination and its implications for the merged entity.
Delwinds Insurance Acquisition Corp. (DWIN) announced its anticipations for a business arrangement involving an institutional investor, which will include a commitment to purchase up to 3,000,000 shares of Delwinds’ Class A common stock at the Business Combination Closing with FOXO Technologies Inc. The Investor Shares would be redeemable at a defined price if certain market conditions are met. This arrangement may reduce the obligations of existing Backstop Investors. The Business Combination aims to modernize life insurance underwriting using innovative technology.
Delwinds Insurance Acquisition Corporation (DWIN) announced the SEC's declaration of its Registration Statement on Form S-4, regarding the proposed business combination with FOXO Technologies, effective August 26, 2022. A Special Meeting for DWIN shareholders is scheduled on September 14, 2022, to approve the combination, with a record date of August 19, 2022. DWIN seeks to extend the deadline for the business combination from September 15, 2022, to December 15, 2022. The anticipated enterprise value post-combination is around $297 million, with FOXO’s shares expected to trade under the symbol 'FOXO' on the NYSE.
FOXO Technologies Inc. announced its participation in investor conferences in June 2022, including the Goldman Sachs Insurtech Conference on June 6 and the Credit Suisse 5th Annual Private Company FinTech Conference from June 9-10. The company is modernizing life insurance through epigenetic science and AI, focusing on saliva-based underwriting technologies. FOXO's ongoing business combination with Delwinds Insurance Acquisition Corp. (NYSE: DWIN) aims to enhance consumer engagement in the life insurance sector.
FOXO Technologies has entered a merger agreement with Delwinds Insurance Acquisition Corp (NYSE: DWIN), estimating a combined enterprise value of $369 million. The merger will enable FOXO to launch proprietary life insurance products that utilize saliva-based epigenetic biomarker technology, enhancing the underwriting process.
Expected cash proceeds of up to $224 million from the merger will support FOXO's innovation in the life insurance industry, addressing the demand for non-invasive underwriting solutions.
Delwinds Insurance Acquisition Corp. (NYSE: DWIN.U) announced that starting January 29, 2021, investors can separate the 20,125,000 units from its IPO into Class A common stock and warrants. The separated Class A stock will trade under the symbol "DWIN," while warrants will trade under "DWIN.WS." Units not separated will continue trading as "DWIN.U." Delwinds is a blank check company seeking a business combination in the insurtech and insurance sectors. The offering was managed by RBC Capital Markets and Cantor Fitzgerald & Co.
Delwinds Insurance Acquisition Corp. closed its initial public offering (IPO) on December 15, 2020, raising $201.25 million by selling 20,125,000 units at $10.00 each. The units will trade on the NYSE under the symbol 'DWIN.U', comprising one share of Class A common stock and a half warrant. The Company aims to pursue a merger or acquisition primarily in the insurtech and insurance sectors. RBC Capital Markets and Cantor Fitzgerald served as joint bookrunning managers for the offering, with the SEC declaring the registration statement effective on December 10, 2020.
