Finance of America Companies (FOA) has shared an announcement.
On June 24, 2024, Finance of America Companies Inc. and its subsidiaries agreed to a strategic financial restructuring with a majority of their note holders. The agreement includes an exchange offer and a consent solicitation to amend terms on their existing unsecured notes. Holders of approximately 93.1% of the 2025 Unsecured Notes are set to participate in the swap for new secured notes and a cash fee. This move, approved by stockholders and consistent with regulatory requirements, aims to strengthen the company’s financial position and is accompanied by commitments to support the transaction and refrain from actions that could impede its success.
For detailed information about FOA stock, go to TipRanks’ Stock Analysis page.
