Recent 8-K filings for FOA
Highest-materiality recent filing
Finance of America repurchases Blackstone equity for $80.3M, issues $40M convertible notes
- Repurchases all Blackstone Class A/units at $10/share for $80.3M; closing expected Q4 2025, subject to conditions.
- Issues $40M zero-coupon convertible notes due Aug 2028, convertible into Class A at $19/share after one year ($18 early).
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All six director nominees elected: Brian Libman, Norma Corio, Andrew Essex, Cory Gardner, Tyson Pratcher, Lance West.
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FOA subsidiary to acquire $5.1B HECM MSR portfolio from Onity/PHH, assume pipeline and staff
FAR to purchase HECM MSRs on ~20,000 loans with $5.1B UPB as of March 31, 2026.
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Finance of America Q1 net income $35M ($1.93 EPS); adjusted EPS $1.10 beats consensus
Net income $35M ($1.93 basic EPS); adjusted net income $26M ($1.10 adjusted EPS), beating consensus.
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Finance of America CAO Tai A. Thornock to retire May 15; CFO Engel adds principal accounting role
CAO Tai A. Thornock notified retirement effective May 15, 2026.
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Finance of America reports FY2025 net income $110M, up 175%; adj. EPS $3.04 above guidance
FY2025 net income from continuing ops $110M (basic EPS $5.04), up 175% YoY; adjusted net income $74M (adj. EPS $3.04), up 429% YoY.
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Finance of America closes $50M Series A Preferred issuance to Blue Owl
Closed $50M issuance of 50,000 Series A Convertible Perpetual Preferred shares to Blue Owl.
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Finance of America raises $50M from Blue Owl via Series A Preferred Stock at 9% dividend
Blue Owl invests $50M for 50,000 shares of Series A Convertible Perpetual Preferred at $1,000/share.
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Acquires HECM servicing portfolio, reverse mortgage loan pipeline, and select origination team members from PHH Mortgage (Onity Group).
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FOA Q3 adjusted net income $33M, $1.33 EPS; YTD net income $131M, $5.78 basic EPS
Q3 net loss of $29M due to home price appreciation model changes; adjusted net income $33M, up 136% QoQ.
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Finance of America enters supplemental indentures modifying terms of 2026 and 2029 notes
FOA Funding executed supplemental indentures on Oct 21, 2025, allowing up to $45M in restricted payments for equity repurchases.
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Finance of America repurchases Blackstone equity for $80.3M, issues $40M convertible notes
Repurchases all Blackstone Class A/units at $10/share for $80.3M; closing expected Q4 2025, subject to conditions.
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Net income from continuing ops $80M, basic EPS $3.16; adjusted net income $14M, adjusted EPS $0.55.
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All six director nominees elected with 18.8M+ votes for each; no nominee received less than 18.85M votes.
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FOA restates cash flow statements; material weakness in internal controls
Audit Committee concluded 2024 annual and Q1 2024 financials should no longer be relied upon due to errors.
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Finance of America Q1 net income $80M, adjusted EPS $0.52; funded volume +32% YoY to $561M
Net income from continuing ops $80M ($3.17 basic EPS); adjusted net income $13M ($0.52 adj EPS).
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Finance of America extends Blackstone promissory note maturity to Aug 1, 2025
Amendment extends maturity from May 25, 2025 to August 1, 2025; no other terms changed.
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Finance of America expands board to seven, appoints Essex and Gardner as directors
Board increased to seven; Andrew Essex and Cory Gardner elected to fill vacancies effective March 19, 2025.
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Finance of America returns to profitability in FY2024; net income $40M, adjusted EBITDA $60M
Net income from continuing operations of $40M ($1.78 basic EPS) for FY2024 vs prior-year loss.
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Finance of America Q3 net income $204M; adjusted EPS $0.67; exchange offer 98% participation
Net income from continuing ops $204M ($8.48 basic EPS); adjusted net income $15M ($0.67 adjusted EPS).
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FOA subsidiary exchanges $342.6M of 7.875% notes due 2025 for secured notes due 2026/2029
Exchanged $342.6M (97.9% of outstanding) 7.875% Senior Notes due 2025 for new secured notes and $856,555 cash.
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Finance of America exchange offer gets 97.9% participation; extends expiration to Oct 29
$342.6M (97.892%) of outstanding 2025 Notes tendered as of Oct 25, 2024.
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Finance of America launches exchange offer for $350M 2025 notes, gets 94% participation
Holders get $571.43/1K of new 7.875% secured notes due 2026, $428.57/1K of 10% exchangeable secured notes due 2029, plus $2.50 cash per $1,000 tendered.
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Finance of America Q2 net loss $5M; adj. EBITDA turns positive at $9M; note exchange support >99%
Net loss from continuing ops $5M ($0.20 basic loss); adjusted net loss $1M ($0.05 per share).
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Finance of America Companies completes 1-for-10 reverse stock split
Reverse split effective 5:00 p.m. ET on July 25, 2024; every 10 shares of Class A common converted into 1 share.
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Finance of America sets July 25 effective date for 1-for-10 reverse stock split
Reverse split effective 5:00 p.m. ET on July 25, 2024; adjusted trading begins July 26.
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NYSE to delist Finance of America warrants over low selling price; company waives appeal
NYSE notified FOA on July 2, 2024, and publicly announced July 3, 2024, that it will delist FOA.WS warrants due to 'abnormally low selling price'.
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Finance of America to exchange $350M unsecured notes for secured debt; 93% support
Initial 71.1% noteholder support for exchange of $350M 7.875% senior notes due 2025; Libman Parties added to total 93.1%.
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Finance of America stockholders approve 10:1 reverse stock split to meet NYSE listing price
Stockholders with 69.8% voting power executed written consent approving 10:1 reverse split.
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Finance of America shareholders elect directors and approve say-on-pay at annual meeting
All five director nominees elected; highest vote withheld was 10.5M for Brian Libman.
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Finance of America reports Q1 net loss $16M, adjusted EBITDA -$1M
Net loss from continuing ops $16M ($0.06 loss per share); adjusted net loss $7M ($0.03 per share).
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Finance of America posts investor update presentation online
Company posted an 'Investor Update' presentation on its IR website on April 9, 2024.
Earnings & guidance
Materiality & sentiment trend
Max materiality 0.85 · Median 0.65 · Most common event earnings