FOXO Technologies Inc. Announces Receipt of Notice of Non-Compliance with NYSE Continued Listing Requirements
2023年6月16日 - 6:30PM
ビジネスワイヤ(英語)
On June 12, 2023, FOXO Technologies Inc. (NYSEAM: FOXO) (the
“Company”) received an official notice of noncompliance (the “NYSE
American Notice”) from NYSE Regulation (“NYSE”) stating that the
Company is below compliance with Section 1003(a)(i) in the NYSE
American Company Guide (the “Company Guide”) since it reported
stockholders’ deficit of $(30,000) at March 31, 2023, and losses
from continuing operations and/or net losses in its two most recent
fiscal years ended December 31, 2022. Section 1003(a)(i) of the
Company Guide requires a listed company to have stockholders’
equity of $2 million or more if the listed company has reported
losses from continuing operations and/or net losses in two of its
three most recent fiscal years.
The Company is now subject to the procedures and requirements
set forth in Section 1009 of the Company Guide. The Company has
until July 12, 2023, to submit a plan (the “Plan”) advising of
actions it has taken or will take to regain compliance with the
continued listing standards by December 12, 2024. If NYSE accepts
the Plan, the Company will have an eighteen (18) month cure period
to comply with the Plan and will be subject to periodic reviews
including quarterly monitoring for compliance with the Plan. The
NYSE American Notice has no immediate effect on the listing or
trading of the Company’s Class A common stock on NYSE American,
which will continue trading on the NYSE American under the symbol
“FOXO”.
The Company intends to consider available options to regain
compliance with the stockholders’ equity requirement, but no
decisions have been made at this time. There can be no assurance
that the Company will ultimately regain compliance with all
applicable NYSE American listing standards.
About FOXO Technologies Inc. (“FOXO”)
FOXO is a biotechnology company dedicated to improving human
health and longevity through the development of cutting-edge
technology and product solutions for various industries, including
life insurance. FOXO's epigenetic technology applies AI to DNA
methylation to identify molecular biomarkers of human health and
aging. FOXO is committed to leveraging the latest advancements in
science and technology to help people live better, longer lives.
For more information about FOXO, visit
www.foxotechnologies.com.
Forward-Looking Statements
This press release contains certain forward-looking statements
for purposes of the “safe harbor” provisions under the United
States Private Securities Litigation Reform Act of 1995. Any
statements other than statements of historical fact contained
herein, including statements about the delisting of the Warrants
from NYSE American, trading of the Warrants in the over-the-counter
market, the continued listing of the Company’s Class A common stock
on NYSE American, and other statements identified by words such as
“will likely result,” “are expected to,” “will continue,” “is
anticipated,” “estimated,” “believe,” “intend,” “plan,”
“projection,” “outlook” or words of similar meaning, but the
absence of these words does not mean that a statement is not
forward-looking. Any such forward-looking statements are based upon
the current beliefs and expectations of the Company’s management
and are inherently subject to significant business, economic and
competitive uncertainties and contingencies, many of which are
difficult to predict and generally beyond the Company’s control.
Many factors could cause actual future events to differ materially
from the forward-looking statements in this press release,
including but not limited to the possibility that the Plan will not
be accepted by NYSE American, the Company will be unable to satisfy
other continued listing requirements of NYSE American for its Class
A common stock to maintain the listing of the Class A common stock
on NYSE American; 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’s business; the ability to implement
FOXO’s 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;
potential inability of FOXO to establish or maintain relationships
required to advance its goals or to achieve its commercialization
and development plans; the enforceability of FOXO’s 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 biotechnology industry or in the markets or industries
in which FOXO operates, including the highly regulated insurance
industry. The foregoing list of factors is not exhaustive. Readers
should carefully consider the foregoing factors and the other risks
and uncertainties discussed in FOXO’s most recent reports on Forms
10-K and 10-Q, particularly the “Risk Factors” 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 do
not intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20230616858658/en/
Contacts / Investor Relations Matthew Hausch, Cody Slach
Gateway Investor Relations (949) 574-3860 FOXO@gatewayir.com
FOXO Technologies (AMEX:FOXO)
過去 株価チャート
から 4 2024 まで 5 2024
FOXO Technologies (AMEX:FOXO)
過去 株価チャート
から 5 2023 まで 5 2024