Foxo executes non-binding acquisition agreement for facility in South Florida

FOXO Technologies (FOXO) announces that it has executed a non-binding acquisition agreement to acquire an assisted living and memory care facility in South Florida. The proposed acquisition includes the land and buildings. The facility has 87 units licensed for the provision of assisted living and memory care services. The purchase price for the facility is expected to be $22 million, a portion of which is milestone-based. $5M of the purchase price will be in the form of non-convertible preferred stock. Completion of the acquisition is subject to definitive agreements and a number of closing conditions, including satisfactory due diligence and financing.