FOXO Technologies Forms Healthcare Acquisition Unit, CEO Becomes Interim CFO

FOXO Technologies Inc. has established a wholly-owned subsidiary, FOXO Acquisition Corporation, to pursue acquisitions in the healthcare services sector, marking a strategic shift toward growth through targeted acquisitions. To fund these acquisitions in a non-dilutive manner, FOXO plans to issue a new series of non-convertible preferred stock that will be publicly listed and is designed to provide both cash and common stock dividends while offering secured interests to investors. This financing approach aims to protect existing shareholders by avoiding dilution of common stock. Following the passing of Interim CFO Martin Ward, CEO Seamus Lagan has assumed the role of Interim CFO during the search for a permanent replacement, ensuring leadership continuity amid this strategic transition. FOXO's leadership expresses optimism that these acquisitions will generate long-term value for shareholders by focusing on companies with significant growth potential or surplus cash flow. The company reaffirms its commitment to delivering shareholder value through its acquisition-driven expansion in healthcare services.