8-K: FOXO Technologies Implements 1-for-10 Reverse Stock Split

FOXO Technologies Inc. announces a 1-for-10 reverse stock split effective April 28, 2025, aimed at increasing the price per share of its Class A Common Stock.

Summary

• FOXO Technologies Inc. has amended its Second Amended and Restated Certificate of Incorporation to implement a 1-for-10 reverse stock split.
• The reverse stock split will be effective at 4:01 p.m. Eastern Time on April 28, 2025.
• Every 10 shares of Class A Common Stock will be combined into one issued and outstanding share.
• The par value per share will remain unchanged at $0.0001.
• Trading on a post-split basis will commence on April 29, 2025, under CUSIP number 351471 404.
• No fractional shares will be issued; holders will receive the number of shares rounded up to the next whole number.

Sentiment

Score: 5

Explanation: The announcement is neutral, detailing a corporate action (reverse stock split) without expressing any particular optimism or concern.

Future Outlook

The company expects the Common Stock to begin trading on a post-split basis on April 29, 2025.

Management Comments

• The document includes a signature by Seamus Lagan, Chief Executive Officer of FOXO Technologies Inc.

Industry Context

Reverse stock splits are often used by companies to increase their stock price to meet minimum listing requirements or to make the stock more attractive to institutional investors.

Stakeholder Impact

• Shareholders will see a reduction in the number of shares they hold, but the proportional ownership will remain the same.
• The reverse stock split may impact the stock's attractiveness to certain investors.

Next Steps

• The Common Stock will begin trading on a post-split basis on April 29, 2025.
• The company will update its CUSIP number to 351471 404.

Key Dates

Keywords

reverse stock split, FOXO Technologies, common stock, corporate action, stock split