FOXO Technologies (FOXO) has released an update to notify the public and investors about an entry into a material definitive agreement.
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FOXO Technologies Inc. has entered into an agreement with ClearThink Capital Partners, LLC, allowing ClearThink to purchase up to $5 million of FOXO’s Class A common stock over time. Prices will be set at the closing price on the purchase date, with each transaction limited by certain percentage and value restrictions to prevent ClearThink from exceeding 9.99% ownership. Additionally, the company has agreed to negotiate first with ClearThink for any similar future equity sales within 24 months, and has also committed to registering these stock sales with the SEC. J.H. Darbie & Co., Inc. served as the intermediary for this deal, earning a finder’s fee and warrant coverage as compensation.
For further insights into FOXO stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.
