FOXO raises $293K via stock sale; warns cash may run out by September 2023

FOXO TECHNOLOGIES INC.

Sold 1,834,375 shares at $0.08/share in first tranche; second tranche of same size pending reg statement effectiveness.
Net proceeds of ~$132,075 from first tranche expected to fund operations only through early September 2023.
Second tranche net proceeds (~$132,075) expected to fund operations through mid/end of September 2023.
Company warns that without additional financing it may curtail operations, sell, or file for bankruptcy.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FOXO TECHNOLOGIES INC. entered into Stock Purchase Agreements with three accredited investors valued at $293,500 (effective 2023-08-23).

Action: entry
Agreement: equity purchase
Counterparty: three accredited investors
Value: $293,500
Effective: 2023-08-23

Exact text from the filing

On August 23, 2023 (the “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 3,668,750 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 $293,500.

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281 material agreements filed in the last 30 days. Browse all material agreements →

FOXO TECHNOLOGIES INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-070277

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