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 has secured up to $2.8 million in Senior Notes from an institutional investor to fund the acquisition of Myrtle Recovery Centers and provide additional working capital. The acquisition, along with the planned purchase of Scott County Community Hospital, is expected to be transformative for the company, which reported combined unaudited net revenue of approximately $18.7 million and net income of $5.2 million for 2023. Interim CEO Mark White expressed optimism about the strategic fit of these acquisitions with FOXO's epigenetic and AI-based solutions. Further details are available in the Company's Form 8-K filed with the SEC.
FOXO Technologies has received a non-compliance notice from the NYSE American due to overdue listing fees exceeding 180 days. The company missed the June 7, 2024 deadline for payment but has since settled the fees. FOXO's Interim CEO, Mark White, attributed the delay to short-term capital allocation strategies, including planned acquisitions expected to boost cash flow. Despite the delinquency, FOXO aims to regain compliance with NYSE standards soon. The company is now under the procedures outlined in Section 1009 of the NYSE Company Guide.
On June 14, 2024, FOXO Technologies announced two share exchange agreements with Rennova Health to acquire healthcare operations. The deals involve Myrtle Recovery Centers and Scott County Community Hospital (doing business as Big South Fork Medical Center). Myrtle Recovery Centers will be exchanged for $500,000 in FOXO common stock, while Scott County Community Hospital will be exchanged for $20 million in convertible preferred stock. These acquisitions are expected to generate significant cash flow for FOXO, with the acquired entities reporting $18.7 million in net revenue and $5.2 million in net income for 2023. The integration aims to leverage FOXO’s epigenetic technology in community health and addiction recovery, potentially expanding market reach and improving patient outcomes.
