SCHEDULE: Sabby Entities Disclose 9.9% Stake in FOXO Technologies

Sabby Management, Hal Mintz, and Sabby Volatility Warrant Master Fund have reported a combined 9.9% beneficial ownership in FOXO Technologies Inc. common stock.

Summary

• Sabby Management, LLC, Hal Mintz, and Sabby Volatility Warrant Master Fund, Ltd. collectively reported beneficial ownership of 249,316,528 shares of FOXO Technologies Inc. Common Stock.
• This ownership represents 9.9% of the class of securities.
• The reporting persons share both voting and dispositive power over all 249,316,528 shares, with no sole voting or dispositive power.
• The filing was made under Rule 13d-1(c), indicating that the reporting persons are not institutional investors filing under 13d-1(b) and have acquired more than 5% but less than 20% of the class.
• The reporting persons certified that the securities were not acquired or held for the purpose of changing or influencing control of FOXO Technologies Inc., other than activities solely in connection with a nomination under Rule 240.14a-11.

Sentiment

Score: 6

Explanation: The disclosure of a significant 9.9% stake by an investment group is generally a neutral to slightly positive signal, indicating a notable investor's position in the company. The explicit statement against influencing control, except for potential nominations, keeps the sentiment from being strongly positive or negative regarding immediate strategic shifts.

Positives

• A significant institutional investor group, Sabby Management, has taken a substantial 9.9% stake in FOXO Technologies Inc., which can be interpreted as a signal of confidence in the company's prospects.

Negatives

• The filing itself does not contain negative information about FOXO Technologies Inc.

Risks

• The certification states that the securities were not acquired or held for the purpose of changing or influencing the control of the issuer, other than activities solely in connection with a nomination under Rule 240.14a-11. This implies a potential for future engagement regarding board nominations, which could introduce governance-related dynamics.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The disclosure of a significant beneficial owner can influence market perception and potentially provide a level of investor confidence.

Key Dates

Recommendation

This Schedule 13G filing primarily serves as a disclosure of a significant beneficial ownership stake by Sabby Management, LLC and its affiliates in FOXO Technologies Inc. While the acquisition of a 9.9% stake by an institutional investor can be seen as a positive signal of confidence, the filing explicitly states that the securities were not acquired for the purpose of changing or influencing control, beyond potential nominations. Therefore, without additional financial or operational information from the company, a 'hold' recommendation is appropriate, acknowledging the new significant shareholder while awaiting further strategic or performance updates.

Keywords

FOXO Technologies, Sabby Management, Hal Mintz, Sabby Volatility Warrant Master Fund, Beneficial Ownership, Schedule 13G, Common Stock, Institutional Investment, Equity Stake