FOXO TECHNOLOGIES INC. ANNOUNCES REVERSE STOCK SPLIT
FOXO Technologies (NYSE American: FOXO) has announced a 1-for-1.99 reverse stock split of its Class A common stock, effective July 27, 2025, at 4:01 PM ET. The stock will begin trading on a split-adjusted basis on July 28, 2025, under the same symbol but with a new CUSIP number.
The reverse split was approved on June 23, 2025, by a majority stockholder and aims to ensure compliance with NYSE American's continued listing requirement of maintaining a stock price above $0.10 per share. Fractional shares will be rounded up to the next whole number, and all outstanding securities, including preferred stock, debt, options, warrants, and equity incentive plans, will be proportionally adjusted.
FOXO Technologies (NYSE American: FOXO) ha annunciato un split inverso delle azioni Class A in rapporto 1 per 1,99, che entrer脿 in vigore il 27 luglio 2025 alle 16:01 ET. Le azioni inizieranno a essere negoziate con il prezzo rettificato a partire dal 28 luglio 2025, mantenendo lo stesso simbolo ma con un nuovo numero CUSIP.
Lo split inverso 猫 stato approvato il 23 giugno 2025 dalla maggioranza degli azionisti e ha l鈥檕biettivo di garantire il rispetto del requisito di quotazione continua di NYSE American, che prevede un prezzo delle azioni superiore a 0,10 $ per azione. Le azioni frazionarie saranno arrotondate per eccesso al numero intero successivo, e tutti i titoli in circolazione, inclusi azioni privilegiate, debiti, opzioni, warrant e piani di incentivazione azionaria, saranno adeguati proporzionalmente.
FOXO Technologies (NYSE American: FOXO) ha anunciado una consolidaci贸n inversa de acciones en proporci贸n 1 a 1,99 de sus acciones ordinarias Clase A, que entrar谩 en vigor el 27 de julio de 2025 a las 4:01 PM ET. Las acciones comenzar谩n a cotizar con el precio ajustado a partir del 28 de julio de 2025, bajo el mismo s铆mbolo pero con un nuevo n煤mero CUSIP.
La consolidaci贸n inversa fue aprobada el 23 de junio de 2025 por la mayor铆a de los accionistas y tiene como objetivo asegurar el cumplimiento del requisito continuo de cotizaci贸n de NYSE American, que exige mantener un precio de acci贸n por encima de $0.10 por acci贸n. Las acciones fraccionarias se redondear谩n al n煤mero entero siguiente, y todos los valores en circulaci贸n, incluyendo acciones preferentes, deuda, opciones, warrants y planes de incentivos de capital, se ajustar谩n proporcionalmente.
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FOXO Technologies (NYSE American : FOXO) a annonc茅 une fusion invers茅e d鈥檃ctions de type 1 pour 1,99 de ses actions ordinaires de classe A, effective 脿 partir du 27 juillet 2025 脿 16h01 ET. Les actions commenceront 脿 锚tre n茅goci茅es sur une base ajust茅e 脿 partir du 28 juillet 2025, sous le m锚me symbole mais avec un nouveau num茅ro CUSIP.
La fusion invers茅e a 茅t茅 approuv茅e le 23 juin 2025 par la majorit茅 des actionnaires et vise 脿 garantir le respect de l鈥檈xigence de cotation continue du NYSE American, qui impose de maintenir un prix de l鈥檃ction sup茅rieur 脿 0,10 $ par action. Les actions fractionnaires seront arrondies au nombre entier sup茅rieur, et tous les titres en circulation, y compris les actions privil茅gi茅es, la dette, les options, les bons de souscription et les plans d鈥檌ncitation en actions, seront ajust茅s proportionnellement.
FOXO Technologies (NYSE American: FOXO) hat eine 1-zu-1,99 Reverse-Aktienzusammenlegung seiner Class A Stammaktien angek眉ndigt, die am 27. Juli 2025 um 16:01 Uhr ET in Kraft tritt. Die Aktien werden ab dem 28. Juli 2025 unter demselben Symbol, jedoch mit einer neuen CUSIP-Nummer, auf einer angepassten Basis gehandelt.
Die Reverse-Split wurde am 23. Juni 2025 von der Mehrheitsaktion盲r genehmigt und soll die Einhaltung der fortlaufenden Notierungsanforderung der NYSE American sicherstellen, wonach der Aktienkurs 眉ber 0,10 USD pro Aktie liegen muss. Bruchteile von Aktien werden auf die n盲chste ganze Aktie aufgerundet, und alle ausstehenden Wertpapiere, einschlie脽lich Vorzugsaktien, Schulden, Optionen, Warrants und Aktienanreizpl盲ne, werden proportional angepasst.
- Helps maintain NYSE American listing compliance by keeping stock price above $0.10
- Fractional shares will be rounded up, benefiting small shareholders
- No impact expected on current or future business operations
- Indicates underlying share price weakness necessitating the reverse split
- May signal financial distress as reverse splits are often viewed negatively by markets
- Could reduce stock liquidity due to fewer shares outstanding
Insights
FOXO's 1:1.99 reverse split aims to avoid delisting by raising share price above $0.10, typically signaling financial distress.
FOXO Technologies is implementing a 1 for 1.99 reverse stock split effective July 27, 2025, with split-adjusted trading beginning July 28. This action is explicitly being taken to ensure compliance with NYSE American's continued listing requirement of maintaining a share price above
This relatively unusual split ratio of 1:1.99 (versus more common ratios like 1:5 or 1:10) suggests the company is making the minimum adjustment needed to regain compliance. While the split mechanically increases the share price by reducing the number of outstanding shares, it's important to understand this doesn't change FOXO's underlying value or business operations.
Reverse splits are typically viewed as negative signals in the market, as they're commonly employed by companies experiencing significant financial challenges. The
All convertible securities, options, and warrants will be proportionately adjusted. Fractional shares will be rounded up to the next whole number, which represents a minor benefit to smaller shareholders. The action received approval through written consent from a majority shareholder on June 23, bypassing a full shareholder vote, which is permissible but less common for significant corporate actions.
WEST PALM BEACH, FLORIDA, July 17, 2025 (GLOBE NEWSWIRE) -- FOXO Technologies Inc. (NYSE American: FOXO) (鈥淔OXO鈥� or the 鈥�Company鈥�), today announced that its Board of Directors has approved a 1 for 1.99 reverse stock split of the Company鈥檚 Class A common stock, par value
The reverse stock split was approved on June 23, 2025 through written consent of a stockholder of the Company who holds a majority of the votes. As a result of the reverse stock split, every 1.99 shares of Common Stock issued and outstanding at the Effective Time will be automatically combined into one share of Common Stock, with no change in the
The reverse stock split is being effected to ensure compliance with NYSE American continued listing requirements to have a stock price trading above
If applicable, all outstanding convertible preferred stock and debt, stock options, warrants, and equity incentive plans will be proportionately affected. The exercise prices and the number of shares issuable upon exercise, of the outstanding stock options and warrants, and the number of shares available for future issuance under the equity incentive plans, will be adjusted in accordance with their respective terms. The reverse stock split will affect all stockholders uniformly and will not affect any stockholder鈥檚 ownership percentage of the Company鈥檚 shares with the exception of those holders of fractional shares.
Continental Stock Transfer & Trust Company (鈥�CST鈥�), the Company鈥檚 transfer agent, will act as the exchange agent and transfer agent for the reverse stock split. Stockholders holding their shares electronically are not required to take any action to receive post-split shares. Stockholders owning shares through a bank, broker or other nominee will have their positions adjusted to reflect the reverse stock split.
Additional information about the reverse stock split can be found in the Proxy Statement filed with the SEC and on the Company鈥檚 website at 听
About听FOXO Technologies Inc.听(鈥淔OXO鈥�)
FOXO听owns and operates three subsidiaries.
Rennova Community Health, Inc., owns and operates Scott County Community Hospital, Inc. (d/b/a Big South Fork Medical Center), a critical access designated (CAH) hospital located in East Tennessee.
Myrtle Recovery Centers, Inc., a 30-bed behavioral health facility in East Tennessee. Myrtle provides inpatient services for detox and residential treatment and outpatient services for MAT and OBOT Programs.
FOXO Labs, Inc. is a biotechnology company dedicated to improving human health and life span through the development of cutting-edge technology and product solutions for various industries.
For more information about听FOXO, visit听.
Forward-Looking Statements
This press release contains forward-looking statements. These statements are made under the 鈥渟afe harbor鈥� provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the FOXO鈥檚 beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to the risk of changes in the competitive and highly regulated industries in which FOXO operates; variations in operating performance across competitors or changes in laws and regulations affecting FOXO鈥檚 businesses; the ability to implement FOXO鈥檚 business plans, forecasts, and other expectations; the ability to obtain financing; the risk that FOXO has a history of losses and may not achieve or maintain profitability in the future; the enforceability of FOXO鈥檚 intellectual property, including its patents and the potential infringement on the intellectual property rights of others; and the risk of downturns and a changing regulatory landscape in the highly competitive markets or industries in which FOXO operates. The foregoing list of factors is not exhaustive. Readers should carefully consider the foregoing factors and the other risks and uncertainties discussed in FOXO鈥檚 most recent reports on Forms 10-K and 10-Q, particularly the 鈥淩isk Factors鈥� sections of those reports, and in other documents FOXO has filed, or will file, with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and FOXO assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
Sebastien Sainsbury
(561) 485-0151
FAQ
What is the reverse stock split ratio for FOXO Technologies (FOXO)?
When will FOXO stock begin trading on a split-adjusted basis?
Why is FOXO Technologies conducting a reverse stock split?
How will FOXO's reverse stock split affect existing shareholders?
Do FOXO shareholders need to take any action for the reverse stock split?
