Longevity Science Leader FOXO Technologies Inc. to List on NYSE American Following Successful Business Combination with Delwinds Insurance Acquisition Corp.
FOXO Technologies Inc. announced the completion of its business combination with Delwinds Insurance Acquisition Corp., with trading starting on the NYSE American under the symbol 'FOXO' from September 16, 2022. This strategic move aims to address key issues within the life insurance sector through epigenetic longevity science. FOXO's inaugural Managing General Agency relationship allows for marketing a range of life insurance products bundled with the FOXO Longevity Report™. The business combination received over 91% shareholder approval, underscoring strong investor confidence.
- Completion of business combination with Delwinds, enhancing market position.
- Launch of a full suite of life insurance products with FOXO Longevity Report™.
- Over 91% shareholder approval indicates solid investor confidence.
- Strategic utilization of epigenetic technology to simplify underwriting processes.
- FOXO's history of losses raises concerns about future profitability.
- Integration challenges may arise from merging operations with Delwinds.
- Market competition in the biotechnology and insurance sectors could impact growth.
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FOXO Commences its
Inaugural Managing General Agency (“MGA”) Relationship with a Full Suite of Life Insurance Products Bundled with the FOXO Longevity Report™
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FOXO Technologies Inc. to Trade on the NYSE American Under the Ticker Symbols “FOXO” BeginningFriday, September 16 th
The products and services FOXO is developing combine longevity science with life insurance to: (i) support consumer health and wellness engagement, and (ii) simplify the consumer underwriting journey.
The combined company will operate under the name “FOXO Technologies Inc.,” and will be led by Chief Executive Officer
The transaction was approved by Delwinds’ stockholders at its special meeting held on
“The completion of this merger is a significant step forward in our mission to make healthy longevity fundamental to the promise of every life insurance policy sold,” said
Additional details on the business combination can be found in Delwinds’ Proxy Statement/Prospectus relating to the business combination.
Advisors
About
FOXO is a technology platform company focused on commercializing longevity science through products and services that serve the life insurance industry. FOXO's epigenetic technology applies AI to DNA methylation to identify molecular biomarkers of human health and aging. FOXO seeks to modernize the life insurance industry by simplifying the consumer underwriting journey with saliva-based biomarkers and enhancing life insurance’s consumer value proposition with the FOXO Longevity Report. For more information about FOXO, visit www.foxotechnologies.com. For more information about FOXO Life, visit www.foxolife.com. For investor information and updates, visit https://foxotechnologies.com/investors/.
About
Delwinds is a special purpose blank check company formed to effectuate a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (a “business combination”). Delwinds’ Chairman and Chief Executive Officer is
Forward Looking Statements
Certain statements included in this press release are not historical facts and are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, regarding the Company’s strategy, future operations, and prospects are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management of the Company and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including changes in the competitive and highly regulated industries in which the Company operates, variations in operating performance across competitors, changes in laws and regulations affecting the Company’s business; failure to realize the anticipated benefits of the transaction; the risk that FOXO has a history of losses and the Company may not achieve or maintain profitability in the future; the ability to implement business plans, forecasts, and other expectations after the transaction, and identify and realize additional opportunities; potential inability of the Company to establish or maintain the managing general agency, insurance carrier or other relationships required to advance its goals or to achieve its commercialization and development plans; the enforceability of the Company’s intellectual property, including its patents and the potential infringement on the intellectual property rights of other; the risk of downturns and a changing regulatory landscape in the highly competitive biotechnology industry or in the markets or industries in which the Company’s prospective customers operate, including the highly regulated insurance industry; the approval of the NYSE to list for trading FOXO’s warrants on the NYSE American exchange and those factors discussed in Delwinds’ Registration Statement on Form S-4, under the heading “Risk Factors,” and other documents Delwinds has filed, or the Company will file, with the
1 Assurity is a marketing name for the mutual holding company
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FAQ
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