Foxo Technologies Inc. Announces Restructuring And Capital Raising Transactions And Appoints Seamus Lagan As CEO; Key Transactions Include: Rennova Health's Exchange Of ~$21M Of A Senior Secured Note, Into 21,000 Shares Of The Company's Series A Cumulative Convertible Redeemable Preferred Stock; An Institutional Investor's Additional Funding Of $1M And Exchange Of $2.2M Of Senior Notes

FOXO Technologies Inc. (NYSE American: FOXO) (the "Company" or "FOXO") announces a series of restructuring and capital raising transactions which will improve the Company's balance sheet, satisfy minimum stockholders' equity requirements of the NYSE American and provide capital for growth and reduce outstanding liabilities. The Company also announces a change in senior leadership.

Key transactions include:

• Rennova Health, Inc.'s exchange of approximately $21 million of a Senior Secured Note issued by Rennova Community Health, Inc., the Company's subsidiary, into 21,000 shares of the Company's Series A Cumulative Convertible Redeemable Preferred Stock
• An institutional investor's additional funding of $1.0 million and exchange of $2.2 million of Senior Notes (which includes the $1.0 million of additional funding) into 2,464 shares of the Company's Series A Preferred Stock
  • Settlement of certain liabilities owed to KR8, Inc. and the termination of a current license agreement for 3,000 shares of the Company's newly designated Series D Cumulative Convertible Redeemable Preferred Stock