secwatch.observer — SEC 8-K summary
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Issuer:     FOXO TECHNOLOGIES INC. (FOXO)
CIK:        0001812360
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001213900-23-082859
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.04, 3.01, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FOXO defaults on PIK notes, enters software license with related party, announces reverse split
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- Failed to make Nov 1 PIK note payments, triggering default; interest rate rises from 15% to 22% per annum; holders may demand 130% of principal.
- NYSE American halted trading Oct 31 due to low price; expects to reopen Nov 7 after 1-for-10 reverse split, but no assurance.
- Entered exclusive license with KR8 AI (Mark White, Interim CEO, is KR8 President) for $2.5M fee ($1.5M cash, $1M stock) plus 15% royalty on subscriber revenues.
- Reverse stock split effective Nov 6, 2023; fractional shares rounded up; trading post-split subject to NYSE approval.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1812360/000121390023082859/0001213900-23-082859-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1812360/000121390023082859/ea187653-8k_foxotech.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-082859

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer