Form 8-K - Current report
2024年10月19日 - 6:16AM
Edgar (US Regulatory)
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0001812360
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2024-10-18
2024-10-18
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date Earliest Event Reported): October 18, 2024
FOXO
TECHNOLOGIES INC.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-39783 |
|
85-1050265 |
(State
or Other Jurisdiction
of
Incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
729 N. Washington Ave., Suite 600
Minneapolis, MN |
|
55401 |
(Address
of Principal Executive Offices) |
|
(Zip
Code) |
(612)
562-9447
(Registrant’s
telephone number, including area code)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Class
A Common Stock, par value $0.0001 |
|
FOXO |
|
NYSE
American |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
1.01 Entry into a Material Definitive Agreement.
On
September 20, 2022, FOXO Technologies Inc., a Delaware corporation (the “Company”) entered into separate Securities
Purchase Agreements with accredited investors pursuant to which the Company issued its 15% Senior Promissory Notes in the aggregate principal
amount of $3,458,000 (the “Senior PIK Notes”).
Section
22 of the Senior PIK Notes states that no provision of the Senior PIK Notes can be waived, modified, supplemented or amended except in
a written instrument signed - in the case of an amendment - by the Company and 50.01% of the holders of the Senior PIK Notes based on
the Aggregate Original Principal Amount (as defined in the Senior PIK Notes) of the Senior PIK Notes.
The
Senior PIK Notes are currently in default and the Company has not had the financial ability to correct this default. To resolve the
default of the Senior PIK Notes and transition the Senior PIK Note debt to equity in the Company to improve shareholder equity and
comply with NYSE continued listing requirements the Company asked the Senior PIK Note holders to consider certain amendments to
their Notes. On
October 18, 2024, the Company received the approval of over 50.01% of the holders of the Senior PIK Notes based on the Aggregate
Original Principal Amount (as defined in the Senior PIK Notes) to enter into Amendment No. 1 to the Senior PIK Notes (the
“Amendment”). Pursuant to the Amendment, the Senior PIK Notes will be automatically exchanged into shares
of the Company’s Series B Cumulative Convertible Redeemable Preferred Stock, to be designated (the “Series B
Preferred Stock”) effective as of 5:00 pm Eastern time on the second business
day after the date on which the Company’s stockholders approve the conversion of the Series B Preferred Stock into shares of
Class A Common Stock in accordance with the continued listing rules of the New York Stock Exchange American. The Senior PIK
Notes (not including accrued and unpaid Interest (as defined in the Senior PIK Notes) which
will be waived as part of the automatic exchange) will
automatically exchange into a number of shares of Series B Preferred Stock equal to the Original Principal Amount (as defined
in the Senior PIK Notes) divided by the Stated Value ($1,000) of the Series B Preferred Stock (the “Automatic Exchange”). Upon
the Automatic Exchange, all Senior PIK Notes (including all accrued and unpaid Interest) (which total value was
$4,706,628.92 at June 30, 2024) shall be exchanged to equity, cancelled and satisfied in full. No shares of Series B
Preferred Stock will be convertible into Class A Common Stock prior to the one-year anniversary of the date of issuance. Each share
of Series B Preferred Stock will have one vote.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
FOXO
Technologies Inc. |
|
|
|
Date:
October 18, 2024 |
By: |
/s/
Mark White |
|
Name:
|
Mark
White |
|
Title: |
Interim
Chief Executive Officer |
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FOXO Technologies (PK) (USOTC:FOXOW)
過去 株価チャート
から 11 2024 まで 12 2024
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過去 株価チャート
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