FOXO Technologies Secures $1.5M Preferred Stock Funding

FOXO Technologies has secured $1.5 million in net proceeds through a securities purchase agreement to issue up to 1,650 shares of its Series A Cumulative Convertible Redeemable Preferred Stock in three closings starting June 4, 2025. This funding supports FOXO's strategy to complete acquisitions and enhance its financial position, which has improved significantly, with stockholders’ equity rising from negative $17.5 million in September 2024 to $9.7 million as of March 31, 2025, alongside over $3 million in Q1 revenues. The company, originally focused on epigenetic diagnostics for personalized life insurance, now operates in healthcare services including rural hospitals and behavioral health facilities through subsidiaries. CEO Seamus Lagan expressed optimism about the company's transformation and revenue growth while aiming to close acquisition targets soon. Despite these positive developments, financial analysts like TipRanks rate FOXO as an underperform stock due to ongoing net losses, high debt, negative cash flows, and bearish technical indicators, indicating that challenges remain. The issuance plan includes three closings, with the second and third contingent on the effectiveness of a registration statement, reflecting FOXO’s ongoing efforts to stabilize and grow.