Foxo Technologies completes equity funding agreement

FOXO Technologies (FOXO) executed an agreement to issue 1,650 of its Series A Cumulative Convertible Redeemable Preferred Stock for net proceeds of $1,500,000. On June 3, 2025, FOXO entered into a Securities Purchase Agreement with certain existing institutional investors of the Company. The Securities Purchase Agreement provides for the issuance of up to 1,650 shares of Series A Preferred Stock at three closings of 550 shares each. If all such shares of Series A Preferred Stock are issued, the Company will receive gross proceeds of $1,650,000 and has agreed to pay certain investor costs of $150,000. The first closing will occur on June 4, 2025. The second closing is expected to occur within two business days of the effective date of a registration statement filed by the Company and the third closing is expected to occur within 10 days of the effective date of the registration statement.