FOXO Technologies Inc., a Delaware corporation listed on the NYSE American under the ticker FOXO, has completed the acquisition of Myrtle Recovery Centers, Inc. The acquisition was finalized through a Stock Exchange Agreement with Myrtle and Rennova Health, Inc., with FOXO Technologies acquiring 98.4% of Myrtle's issued and outstanding shares. The transaction, valued at $500,000, was settled by issuing shares of FOXO's Class A Common Stock based on the volume weighted average price prior to the closing date, with a cap at 19.99% of FOXO's outstanding Class A shares. The deal, which closed on June 14, 2024, also includes provisions for adjusting the purchase price based on Myrtle's EBITDA as indicated in their audited financial statements. Additionally, FOXO Technologies reported the...Show More

FOXO Technologies Inc., a Delaware corporation listed on the NYSE American under the ticker FOXO, has completed the acquisition of Myrtle Recovery Centers, Inc. The acquisition was finalized through a Stock Exchange Agreement with Myrtle and Rennova Health, Inc., with FOXO Technologies acquiring 98.4% of Myrtle's issued and outstanding shares. The transaction, valued at $500,000, was settled by issuing shares of FOXO's Class A Common Stock based on the volume weighted average price prior to the closing date, with a cap at 19.99% of FOXO's outstanding Class A shares. The deal, which closed on June 14, 2024, also includes provisions for adjusting the purchase price based on Myrtle's EBITDA as indicated in their audited financial statements. Additionally, FOXO Technologies reported the issuance of 80,600 shares to Smithline Family Trust II and 1,023,629 shares to RHI as part of the Myrtle acquisition. Furthermore, the company will issue 1,108,755 shares of Class A Common Stock related to a senior note. These securities were issued under exemptions from registration requirements, and no sales commissions were paid in these transactions. The company's board of directors approved the closing of the Myrtle SEA on July 17, 2024, and the report was signed by Interim CEO Mark White on July 23, 2024.