FOXO TECHNOLOGIES INC. ANNOUNCES EXECUTION OF A NON BINDING AGREEMENT TO ACQUIRE VECTOR BIOSOURCE INC.
FOXO Technologies Inc. (NYSE American: FOXO) has signed a non-binding agreement to acquire Vector Biosource Inc., an information and biospecimen sourcing provider serving biotechnology and pharmaceutical research industries. Vector projects $800,000 in revenues for 2025 without additional capital.
The acquisition terms include:
- $750,000 in Series D Preferred Stock upfront
- Additional $750,000 in Series D Preferred Stock tied to 2025 revenue milestones
- Future earnout payments in Series D Preferred Stock based on 2026-2027 performance
The deal closing, expected within 45 days, is contingent on definitive agreements, due diligence, $1 million working capital provision, and other conditions. The acquisition aims to leverage Vector's healthcare sector position and growth potential through FOXO's corporate infrastructure and potential subsidiary synergies.
FOXO Technologies Inc. (NYSE American: FOXO) ha firmato un accordo non vincolante per acquisire Vector Biosource Inc., un fornitore di informazioni e approvvigionamento di campioni biologici che serve le industrie della ricerca biotecnologica e farmaceutica. Vector prevede ricavi di $800.000 per il 2025 senza capitale aggiuntivo.
I termini dell'acquisizione includono:
- $750.000 in azioni privilegiate di Serie D in anticipo
- Pagamenti futuri legati alle performance delle azioni privilegiate di Serie D per il 2026-2027
La chiusura dell'accordo, prevista entro 45 giorni, è soggetta a contratti definitivi, due diligence, una provvista di capitale circolante di $1 milione e altre condizioni. L'acquisizione mira a sfruttare la posizione di Vector nel settore sanitario e il potenziale di crescita attraverso l'infrastruttura aziendale di FOXO e le potenziali sinergie con le sussidiarie.
FOXO Technologies Inc. (NYSE American: FOXO) ha firmado un acuerdo no vinculante para adquirir Vector Biosource Inc., un proveedor de información y obtención de biospecímenes que sirve a las industrias de investigación biotecnológica y farmacéutica. Vector proyecta $800,000 en ingresos para 2025 sin capital adicional.
Los términos de la adquisición incluyen:
- $750,000 en acciones preferentes de Serie D por adelantado
- Otros $750,000 en acciones preferentes de Serie D vinculados a hitos de ingresos de 2025
- Pagos futuros en acciones preferentes de Serie D basados en el rendimiento de 2026-2027
El cierre del acuerdo, que se espera en un plazo de 45 días, está condicionado a contratos definitivos, la debida diligencia, una provisión de capital de trabajo de $1 millón y otras condiciones. La adquisición tiene como objetivo aprovechar la posición de Vector en el sector de la salud y su potencial de crecimiento a través de la infraestructura corporativa de FOXO y las posibles sinergias con las subsidiarias.
FOXO Technologies Inc. (NYSE American: FOXO)는 생명공학 및 제약 연구 산업을 위한 정보 및 바이오 샘플 공급업체인 Vector Biosource Inc.를 인수하기 위한 비구속 계약을 체결했습니다. Vector는 추가 자본 없이 2025년 매출이 $800,000에 이를 것으로 예상하고 있습니다.
인수 조건은 다음과 같습니다:
- 시리즈 D 우선주로 $750,000 선지급
- 2025년 수익 이정표에 연계된 시리즈 D 우선주로 추가 $750,000
- 2026-2027년 성과에 따라 지급되는 시리즈 D 우선주에 대한 미래 수익금
계약의 마감은 45일 이내에 예상되며, 이는 최종 계약, 실사, $1백만의 운영 자본 제공 및 기타 조건에 따라 달라집니다. 인수는 FOXO의 기업 인프라와 자회사 간의 잠재적 시너지를 통해 Vector의 헬스케어 부문 위치와 성장 잠재력을 활용하는 것을 목표로 합니다.
FOXO Technologies Inc. (NYSE American: FOXO) a signé un accord non contraignant pour acquérir Vector Biosource Inc., un fournisseur d'informations et de sourcing de biospécimens servant les industries de recherche biotechnologique et pharmaceutique. Vector prévoit des revenus de 800 000 $ pour 2025 sans capital supplémentaire.
Les termes de l'acquisition incluent :
- 750 000 $ en actions privilégiées de série D versées d'avance
- 750 000 $ supplémentaires en actions privilégiées de série D liés aux objectifs de revenus de 2025
- Des paiements futurs en actions privilégiées de série D basés sur la performance de 2026-2027
La clôture de l'accord, prévue dans un délai de 45 jours, est conditionnée à des accords définitifs, à une diligence raisonnable, à une provision de fonds de roulement de 1 million de dollars et à d'autres conditions. L'acquisition vise à tirer parti de la position de Vector dans le secteur de la santé et de son potentiel de croissance grâce à l'infrastructure d'entreprise de FOXO et aux synergies potentielles avec les filiales.
FOXO Technologies Inc. (NYSE American: FOXO) hat eine unverbindliche Vereinbarung zur Übernahme von Vector Biosource Inc. unterzeichnet, einem Anbieter von Informationen und Bioproben, der die Biotechnologie- und Pharmaforschungsindustrie bedient. Vector erwartet für 2025 Einnahmen von 800.000 US-Dollar ohne zusätzliches Kapital.
Die Bedingungen der Übernahme umfassen:
- 750.000 US-Dollar in Serie D Vorzugsaktien im Voraus
- Zusätzliche 750.000 US-Dollar in Serie D Vorzugsaktien, die an Umsatzmeilensteine für 2025 gebunden sind
- Zukünftige Earnout-Zahlungen in Serie D Vorzugsaktien basierend auf der Leistung von 2026-2027
Der Abschluss des Deals, der innerhalb von 45 Tagen erwartet wird, ist von endgültigen Vereinbarungen, Due Diligence, einer Bereitstellung von 1 Million US-Dollar Betriebskapital und anderen Bedingungen abhängig. Die Übernahme zielt darauf ab, die Position von Vector im Gesundheitssektor und das Wachstumspotenzial durch die Unternehmensinfrastruktur von FOXO und mögliche Synergien mit Tochtergesellschaften zu nutzen.
- Vector expects $800,000 revenue generation in 2025 without additional capital
- Performance-based acquisition structure minimizes upfront costs
- Strategic expansion into biospecimen sourcing market
- Potential synergies with existing FOXO subsidiaries
- Non-binding agreement with execution risk
- Significant dilution potential through Series D Preferred Stock issuance
- Requires $1 million working capital commitment
- Deal completion subject to multiple conditions and due diligence
MINNEAPOLIS, MN, March 19, 2025 (GLOBE NEWSWIRE) -- FOXO Technologies Inc. (NYSE American: FOXO) (the “Company”), announces that it has signed a non-binding agreement to acquire Vector Biosource Inc. (“Vector”). Vector is an information and biospecimen sourcing provider serving the biotechnology, clinical research and pharmaceutical research industries. Vector expects to generate
The purchase price consists of: (i)
“We are excited to have reached agreement with Vector to move forward with this strategic acquisition,” said Seamus Lagan, CEO of FOXO. “We were attracted to Vector’s unique position in this healthcare sector, and its growth profile, and we are focused on working closely with Vector senior leadership to aggressively expand the Vector platform.” Frank Dias, Jr., CEO of Vector explained, “we believe the partnership with FOXO will allow Vector to achieve its near and long term growth plans by providing growth capital, corporate infrastructure and potential synergies with other FOXO subsidiaries. We anticipate a significant increase in expected revenues with the provision of growth capital and corporate infrastructure by FOXO.”
About FOXO Technologies Inc. (“FOXO”)
FOXO owns and operates three subsidiaries.
Rennova Community Health, Inc., owns and operates Scott County Community Hospital, Inc. (d/b/a Big South Fork Medical), a critical access designated (CAH) hospital in East Tennessee.
Myrtle Recovery Centers, Inc., a 30-bed behavioral health facility in East Tennessee. Myrtle provides inpatient services for detox and residential treatment and outpatient services for MAT and OBOT Programs.
Foxo Labs, Inc. is a biotechnology company dedicated to improving human health and life span through the development of cutting-edge technology and product solutions for various industries.
For more information about FOXO, visit www.foxotechnologies.com.
Forward-Looking Statements
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the FOXO’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to the risk of changes in the competitive and highly regulated industries in which FOXO operates; variations in operating performance across competitors or changes in laws and regulations affecting FOXO’s business; the ability to implement FOXO’s business plans, forecasts, and other expectations; the ability to obtain financing; the risk that FOXO has a history of losses and may not achieve or maintain profitability in the future; potential inability of FOXO to establish or maintain relationships required to advance its goals or to achieve its commercialization and development plans; the enforceability of FOXO’s intellectual property, including its patents and the potential infringement on the intellectual property rights of others; and the risk of downturns and a changing regulatory landscape in the highly competitive biotechnology industry or in the markets or industries in which FOXO operates. The foregoing list of factors is not exhaustive. Readers should carefully consider the foregoing factors and the other risks and uncertainties discussed in FOXO’s most recent reports on Forms 10-K and 10-Q, particularly the “Risk Factors” sections of those reports, and in other documents FOXO has filed, or will file, with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and FOXO assumes no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
Sebastien Sainsbury
ssainsbury@foxotechnologies.com
(561) 485-0151
FAQ
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