FOXO Technologies Inc. Enters into Various Agreements

FOXO Technologies Inc. (NYSEAMERICAN:FOXO) has recently made significant agreements according to its latest 8-K filing with the Securities and Exchange Commission on December 5, 2024.

One of the major transactions involved the Exchange Agreement between FOXO Technologies Inc., Rennova Community Health, Inc., and Rennova Health, Inc. As stipulated in the agreement, $21,000,000 of the principal from a senior note was exchanged for 21,000 shares of the Company’s Series A Cumulative Convertible Redeemable Preferred Stock. Additionally, a new note was issued to Rennova Health, Inc. in return for the exchange. This Exchange Agreement closed on the same day it was executed.

Another notable agreement was the Termination of Employment, Settlement, and Mutual Release Agreement with Mark White, where he received $100,000 upon signing. Moreover, Mr. White was appointed as the Chief Executive Officer of FOXO Labs, a subsidiary of FOXO Technologies, and granted a promissory note of $500,000.

Furthermore, the Company entered into a Termination Agreement with KR8 AI Inc., where 3,000 shares of Series D Preferred Stock were issued to KR8 as full satisfaction of approximately $3,000,000 owed under the terminated Master Software and Services Agreement.

Incorporated into these transactions were the creation of the Series D Preferred Stock, allowing for the issuance of up to 10,000 shares. The Series D Preferred Stock will offer holders a right to vote, no dividend entitlements, and conversion rights into Common Stock. The agreement also outlined the voting rights, liquidation preferences, and conversion rights associated with the stock.

Seamus Lagan, aged 55, was appointed as the Chief Executive Officer by the Board of Directors, replacing Mark White who resigned on the same day. Lagan has a considerable background in various leadership roles within the company and its subsidiaries.

These moves mark a significant shift in the leadership and financial structure of FOXO Technologies Inc. as it navigates through these agreements and appointments. The full terms of these agreements can be found in the official SEC filing by the company.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read FOXO Technologies’s 8K filing here.

FOXO Technologies Company Profile

FOXO Technologies Inc engages in epigenetic biomarker underwriting technology and consumer engagement platform service business in the United States. It operates through two segments, FOXO Labs and FOXO Life. The company applies automated machine learning and artificial intelligence technologies to discover epigenetic biomarkers of human health, wellness, and aging.