Welcome to our dedicated page for FOXO TECHNOLOGIES news (Ticker: FOXO), a resource for investors and traders seeking the latest updates and insights on FOXO TECHNOLOGIES stock.
FOXO Technologies Inc (FOXO) operates at the intersection of epigenetic science and artificial intelligence, delivering innovative solutions for life insurance underwriting and longevity research. This page serves as the definitive source for official company announcements, financial updates, and strategic developments.
Investors and industry observers will find curated coverage of earnings reports, technology partnerships, regulatory milestones, and acquisition activity. Our repository includes press releases related to FOXO Labs' biomarker discoveries and FOXO Life's insurance product innovations, providing insight into how epigenetic data transforms risk assessment models.
Key areas of focus include updates on AI-driven health analytics, strategic expansions into community health initiatives, and advancements in DNA methylation testing methodologies. All content is sourced directly from verified corporate communications to ensure reliability.
Bookmark this page for real-time access to FOXO's evolving role in reshaping insurance through longevity science. Check regularly for critical updates that demonstrate the company's progress in translating epigenetic research into commercial applications.
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.
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.
FOXO Technologies Inc. (NYSE American: FOXO) has received a notice of non-compliance from NYSE Regulation due to reporting stockholders' deficit of ($14.9) million as of March 31, 2024, and losses from continuing operations and/or net losses in its three most recent fiscal years ended December 31, 2023. The company is now subject to procedures outlined in Section 1009 of the Company Guide and remains under conditions from previous notifications for stockholders' equity noncompliance and past due listing fee noncompliance.
Interim CEO Mark White attributed the delinquency to short-term capital allocation strategies and expressed the company's intention to present a compliance plan, highlighting recent planned acquisitions expected to generate meaningful cashflow. FOXO aims to regain compliance with NYSE American continued listing standards in the near future, though there are no guarantees. If compliance is not achieved by the respective deadlines, NYSE may initiate delisting proceedings.
FOXO Technologies has regained compliance with SEC reporting requirements after filing its Form 10-Q for the quarter ending March 31, 2024. Interim CEO Mark White expressed confidence in timely future filings and addressing NYSE American deficiencies. FOXO is closing a transaction with Rennova Health to acquire rural hospital operations in Tennessee and has completed the Myrtle Recovery Centers transaction, securing $2.5M in additional capital. Myrtle Recovery Centers, operational since August 2023, is expected to generate $3-4M annually. The Scott County hospital acquisition awaits shareholder approval and is expected to close in Q3 2024. Combined, Myrtle Recovery Centers and Scott County Community Hospital generated unaudited net revenue of $18.7M and net income of $5.2M for the year ending December 31, 2023.
