FOXO TECHNOLOGIES INC. (FOXO): M&A transaction — FOXO files financials for Myrtle Recovery acquisition; Myrtle had $1.1M net loss in 2023

FOXO TECHNOLOGIES INC.

Acquired 98.4% of Myrtle for $500k consideration: 1,023,629 FOXO shares ($0.23/share) plus $264,565 demand note.
Myrtle's audited FY2023: net loss $1,086,357, revenue $139,550, negative equity $1,118,553.
Myrtle's auditor notes substantial doubt as going concern due to recurring losses and working capital deficit of $1.4M.
Myrtle operates two Tennessee-licensed behavioral health facilities; started accepting patients in Aug 2023.
Pro forma financials filed for FOXO for six months ended June 30, 2024 and year ended Dec 31, 2023.

item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

FOXO TECHNOLOGIES INC. completed an acquisition involving Rennova Health, Inc. for $500,000 (closed 2024-07-17).

Action: acquisition
Counterparty: Rennova Health, Inc.
Consideration: $500,000
Closing: 2024-07-17

Exact text from the filing

exchanged with the Company 100 shares of Common Stock of Myrtle (which represents 98.4% of the issued and outstanding shares of Myrtle Common Stock) for total consideration of $500,000 (the “ Myrtle Purchase Price ”), which payment was made by the issuance of a number of shares of Class A Common Stock of the Company determined by dividing $500,000 by the volume

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31 m&a transactions filed in the last 30 days. Browse all m&a transactions →

FOXO TECHNOLOGIES INC. filing history →

Source: SEC EDGAR

accession 0001493152-24-034212

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