---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-058544"
form_type: "8-K"
ticker: "FOXO"
cik: "0001812360"
company_name: "FOXO TECHNOLOGIES INC."
filed_at: "2023-07-20T23:59:59+00:00"
generated_at: "2026-06-13T05:43:50.860038+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# FOXO raises $450K but warns cash only through mid-August; records $1.2M impairment

## Summary
- Private placement of up to 5.625M shares at $0.08/share for $450K gross proceeds; first tranche of 2.8125M shares closed.
- Net proceeds (~$202.5K from first tranche) expected to fund operations only through end of July 2023; second tranche through mid-Aug.
- Company warns it may need to curtail/suspend operations, sell company, or file bankruptcy if no further financing secured.
- Expects ~$1.2M non-cash impairment charge on intangible assets: $630K underwriting API, $578K longevity API for Q2 2023.
- Outstanding shares after first tranche: 49,293,392.

## SEC filing metadata
- accession: 0001213900-23-058544
- form_type: 8-K
- ticker: FOXO
- cik: 0001812360
- company_name: FOXO TECHNOLOGIES INC.
- filed_at: 2023-07-20T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1812360/000121390023058544/0001213900-23-058544-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1812360/000121390023058544/ea182022-8k_foxotech.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-058544
- JSON: https://secwatch.observer/filing/0001213900-23-058544.json
- Plain text: https://secwatch.observer/filing/0001213900-23-058544.txt

## Key facts
- Material Agreements
  FOXO TECHNOLOGIES INC. entered into Stock Purchase Agreements with three accredited investors valued at aggregate gross proceeds of $450,000 (effective 2023-07-14).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: three accredited investors
  - Value: aggregate gross proceeds of $450,000
  - Effective: 2023-07-14
  source text: From July 14, 2023 through July 20, 2023 (each such date, a “First Tranche Closing Date”), FOXO Technologies Inc. (the “Company”) entered into three separate Stock Purchase Agreements (the “Stock Purchase Agreements”), which have substantially similar terms, with three accredited investors (the “Buyers”), pursuant to which the Company agreed to issue and sell to the Buyers, in a private placement (the “Offering”), in two separate tranches each, an aggregate of up to 5,625,000 shares of the Company’s Class A common stock, par value $0.0001 per share (“Common Stock”), at a price of $0.08 per share (the “Per Share Price”), for aggregate gross proceeds of $450,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1812360/000121390023058544/0001213900-23-058544-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.