Why FOXO is hot tomorrow
IMPORTANT TOMORROW: A press release was scheduled for June 14, 2024, to announce the agreements. These strategic acquisitions are subject to customary closing conditions, including regulatory approvals and the fulfillment of certain financial reporting obligations by Rennova.
On June 10, 2024, FOXO Technologies Inc. entered into TWO SIGNIFICANT stock exchange agreements
▪️Myrtle Recovery Centers, Inc.
▪️Rennova Community Health, Inc.
Both aimed at expanding FOXO's healthcare services reach. The Myrtle SEA involved FOXO acquiring 98.4% of Myrtle's common stock from Rennova Health, Inc. for $500,000, payable in FOXO Class A Common Stock.
The RCHI SEA saw FOXO exchanging 100% of RCHI's common stock for 20,000 shares of its Series A Preferred Stock, valued at $20 million.
Both agreements included clauses adjusting the purchase price based on EBITDA variations and were subject to shareholder approval and other closing conditions.
Additionally, FOXO issued over 1 million shares of Class A Common Stock to Smithline Family Trust II in two separate transactions.
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