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FOXO Technologies Inc. - FOXO STOCK NEWS

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FOXO Technologies Inc. (symbol: FOXO) is leading the charge in transforming the global longevity and life insurance industries through cutting-edge epigenetic technology and AI-driven solutions. Founded under the names Yousurance and Life Epigenetics, the company has redefined how we understand and measure health and aging.

FOXO’s core business revolves around commercializing longevity science by utilizing epigenetic biomarkers to assess the biological age and health status of individuals. This revolutionary approach not only impacts life insurance underwriting protocols but also engages consumers directly through an advanced platform.

With a focus on DNA methylation, FOXO leverages supervised machine learning and artificial intelligence to pinpoint molecular signs of aging and health conditions. This enables more accurate risk assessment and personalized health insights, setting new standards in the insurance sector.

Recent achievements include groundbreaking advancements in epigenetic research and the integration of AI to enhance the precision of health evaluations. The company's current projects aim to further refine these technologies and expand their application range, ensuring they remain at the forefront of innovation in their field.

Financially, FOXO Technologies Inc. is committed to sustained growth and solidifying its market presence through strategic partnerships and continual investment in research and development. Their collaborations with leading scientific institutions and industry partners underscore their commitment to excellence and innovation.

Stay updated with the latest news and developments to see how FOXO Technologies Inc. continues to shape the future of longevity and health insurance.

Rhea-AI Summary

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.

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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

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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FOXO Technologies (NYSE American: FOXO) announced that its subsidiary, Myrtle Recovery Centers, received two full licenses from the Tennessee Department of Mental Health and Substance Abuse Services, effective August 1, 2024. These licenses authorize alcohol and drug residential treatment and non-residential opiate treatment. Acquired from Rennova Health on June 14, 2024, Myrtle Recovery Centers is a 30-bed facility offering both inpatient and outpatient services. Opened in August 2023, it has secured contracts with major health insurance companies in Tennessee.

FOXO projects annual revenues of $3-4M from this facility and plans to expand the model to other locations. CEO Mark White expressed optimism about the business's growth and mentioned an upcoming acquisition of Big South Fork Medical, pending shareholder approval and expected to close in Q3 2024. Scott County Community Hospital and Myrtle Recovery Centers reported a combined net revenue of $18.7 million and a net income of $5.2 million for the year ending December 31, 2023.

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FAQ

What is the current stock price of FOXO Technologies (FOXO)?

The current stock price of FOXO Technologies (FOXO) is $0.2755 as of December 23, 2024.

What is the market cap of FOXO Technologies (FOXO)?

The market cap of FOXO Technologies (FOXO) is approximately 5.1M.

What does FOXO Technologies Inc. specialize in?

FOXO Technologies Inc. specializes in applying epigenetic technology and AI to transform the life insurance industry through advanced risk assessment and consumer engagement.

How does FOXO's technology work?

FOXO uses DNA methylation and AI to identify molecular biomarkers that reveal insights into an individual's health and aging, allowing for more accurate underwriting in life insurance.

What are epigenetic biomarkers?

Epigenetic biomarkers are molecular signs found in DNA that indicate current health status and biological age, which FOXO utilizes to enhance life insurance underwriting.

How is FOXO Technologies Inc. impacting the life insurance industry?

By employing epigenetic technology and AI, FOXO is revolutionizing life insurance underwriting, making it more precise and personalized.

What are some recent achievements of FOXO Technologies Inc.?

Recent milestones include advancements in epigenetic research, development of AI-driven health assessments, and strategic partnerships to enhance their technology platform.

What is FOXO Technologies Inc.’s approach to consumer engagement?

FOXO engages consumers through a platform that provides personalized health insights based on epigenetic biomarkers, enhancing their understanding of personal health and longevity.

Who are FOXO Technologies Inc.'s partners?

FOXO collaborates with leading scientific institutions and industry partners to advance their research and technology applications in the life insurance sector.

What is DNA methylation?

DNA methylation is a biological process where methyl groups are added to DNA, affecting gene expression without altering the DNA sequence. FOXO uses this process to identify health biomarkers.

Where is FOXO Technologies Inc. headquartered?

FOXO Technologies Inc. is headquartered in Minneapolis, as indicated in their latest news release.

What is the future outlook for FOXO Technologies Inc.?

FOXO is focused on continued innovation in epigenetic technology and AI, aiming for sustained growth and expanded applications in the life insurance industry.

FOXO Technologies Inc.

NYSE:FOXO

FOXO Rankings

FOXO Stock Data

5.09M
14.12M
12%
2.26%
0.39%
Health Information Services
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United States of America
MINNEAPOLIS