FOXO TECHNOLOGIES INC. (FOXO): debt financing — FOXO lays off 4 employees, warns cash only through Oct 2023; explores sale or merger

FOXO TECHNOLOGIES INC.

Terminated 4 non-executive employees on Sep 29; now total 6 non-exec, 1 consultant, 2 execs, 2 non-employee directors.
Cash conserved expected to fund operations only through October 2023; if no financing or strategic deal, may suspend operations, sell, or file bankruptcy.
Exploring strategic alternatives including potential acquisition of KR8 AI, developing AI health tools, pausing life insurance sales.
Obtained $42,500 loan from director Andrew Poole at 13.25% interest due on demand or in one year.
Granted 2.5M shares each to Interim CEO Mark White and Interim CFO Martin Ward, fully vested immediately.

item 1.01 item 2.03 item 5.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

FOXO TECHNOLOGIES INC. incurred loan of $42,500 with Andrew J. Poole at 13.25% per annum maturing one year from the issuance date.

Instrument: loan
Principal: $42,500
Counterparty: Andrew J. Poole
Rate: 13.25% per annum
Maturity: one year from the issuance date
Event: incurrence

Exact text from the filing

On October 2, 2023, FOXO Technologies Inc. (the “Company”) obtained a $42,500 loan from Andrew J. Poole, a director of the Company (the “Loan”), to be used to pay for the legal fees of Mitchell Silberberg & Knupp LLP through October 2023.

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102 debt financings filed in the last 30 days. Browse all debt financings →

FOXO TECHNOLOGIES INC. filing history →

Source: SEC EDGAR

accession 0001013762-23-002151

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