other_material
confidence high
sentiment positive
materiality 0.55
FOXO Technologies designates Series E Preferred Stock for acquisitions
FOXO TECHNOLOGIES INC.
- Series E Preferred Stock: $25 stated value, 2.5% annual cash dividend paid semi-annually, plus 5.0% common stock dividend paid semi-annually.
- Preferred is secured by stock of FOXO Acquisition Corp, a newly formed acquisition vehicle.
- Company intends to use Series E as acquisition currency and for capital raising, non-dilutive to common shareholders.
- FOXO plans to publicly list Series E Preferred Stock under its own trading symbol at the appropriate time.
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