FOXO Technologies Expects Class A Common Stock to Resume Trading, Today, November 7, in Connection with 1-for-10 Reverse Stock Split
07 Novembre 2023 - 3:23PM
Business Wire
FOXO Technologies Inc. (NYSE American: FOXO) (“FOXO” or
the “Company”), a leader in the field of epigenetic biomarker
technology, today announced that it expects its Class A common
stock (the “Common Stock”) to resume trading today, November 7,
2023, in connection with a 1-for-10 reverse stock split of its
issued and outstanding shares of Common Stock to regain compliance
with the continued listing requirements, as set forth in Section
1003(f)(v) of the NYSE American Company Guide ("Company
Guide").
The Company’s Common Stock will continue to trade on NYSE
American under the symbol "FOXO" and will begin trading on a
split-adjusted basis when the market opens today, November 7,
2023.
Mark White, Interim CEO of FOXO Technologies, stated, “In the
short time since I took the helm at FOXO, we have undertaken a
restructuring of the Company intended to rapidly and
cost-effectively drive commercialization of our technology through
a new direct-to-consumer offering, as announced last week. The new
product offering, designed to maximize value for our stockholders,
leverages our epigenetic data and analytics through a commercial
partnership with KR8.ai. We are delighted to announce that trading
is expected to resume on the NYSE American following the reverse
split, and we look forward to announcing a number of key strategic
developments on our overall strategy in the days and weeks
ahead.”
About FOXO Technologies Inc. (“FOXO”)
FOXO, a technology platform company, is a leader in epigenetic
biomarker discovery and commercialization focused on
commercializing longevity science through products and services
that serve multiple industries. FOXO's epigenetic technology
applies AI to DNA methylation to identify molecular biomarkers of
human health and aging. For more information about FOXO, visit
www.foxotechnologies.com. For investor information and updates,
visit https://foxotechnologies.com/investors/.
Forward-Looking Statements
This press release contains certain forward-looking statements
for purposes of the “safe harbor” provisions under the United
States Private Securities Litigation Reform Act of 1995. Any
statements other than statements of historical fact contained
herein, including statements as to future results of operations and
financial position, planned products and services, business
strategy and plans, objectives of management for future operations
of FOXO, market size and growth opportunities, competitive
position, and technological and market trends, are forward-looking
statements. Such forward-looking statements include, but not
limited to, expectations, hopes, beliefs, intentions, plans,
prospects, financial results or strategies regarding FOXO; the
future financial condition and performance of FOXO and the products
and markets and expected future performance and market
opportunities of FOXO. These forward-looking statements generally
are identified by the words “anticipate,” “believe,” “could,”
“expect,” “estimate,” “future,” “intend,” “strategy,” “may,”
“might,” “strategy,” “opportunity,” “plan,” project,” “possible,”
“potential,” “project,” “predict,” “scales,” “representative of,”
“valuation,” “should,” “will,” “would,” “will be,” “will continue,”
“will likely result,” and similar expressions, but the absence of
these words does not mean that a statement is not forward-looking.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, including but not limited to: (i) the ability to obtain
financing; (ii) the Common Stock resuming trading on NYSE American;
(iii) the acceleration of the Company’s outstanding indebtedness
evidenced by the 15% Senior Promissory Notes as a result of the
Company’s existing event of default under such instruments; (iv)
risk of changes in the competitive and highly regulated industries
in which FOXO operates, variations in operating performance across
competitors or changes in laws and regulations affecting FOXO’s
business; (v) ability to implement FOXO’s business plans,
forecasts, and other expectations; (vi) the ability to maintain its
NYSE American listing; (vii) the risk that FOXO has a history of
losses and may not achieve or maintain profitability in the future;
(viii) potential inability of FOXO to establish or maintain
relationships required to advance its goals or to achieve its
commercialization and development plans; (ix) the enforceability of
FOXO’s intellectual property, including its patents and the
potential infringement on the intellectual property rights of
others; and (x) the risk of downturns and a changing regulatory
landscape in the highly competitive biotechnology industry or in
the markets or industries in which FOXO’s prospective customers
operate. The foregoing list of factors is not exhaustive. Readers
should carefully consider the foregoing factors and the other risks
and uncertainties discussed in FOXO’s most recent reports on Forms
10-K and 10-Q, particularly the “Risk Factors” sections of those
reports, and in other documents FOXO has filed, or will file, with
the SEC. These filings identify and address other important risks
and uncertainties that could cause actual events and results to
differ materially from those contained in the forward-looking
statements. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and FOXO assumes no obligation and does
not intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise.
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FOXO Technologies (AMEX:FOXO)
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