secwatch.observer — SEC 8-K summary
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Issuer:     FOXO TECHNOLOGIES INC. (FOXO)
CIK:        0001812360
Form:       8-K
Filed at:   2023-07-20T23:59:59+00:00
Accession:  0001213900-23-058544
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1812360/000121390023058544/0001213900-23-058544-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1812360/000121390023058544/ea182022-8k_foxotech.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-058544

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