FOA Class A Common Stock Now Dual-Listed on NYSE & CBSX

TL;DR

**FOA's Class A stock is now dual-listed on NYSE and CBSX, potentially boosting liquidity.**

AI Summary

Finance of America Companies Inc. (FOA) filed an 8-K on February 2, 2024, to update its registered securities. As of January 30, 2024, the company's Class A Common Stock, with a par value of $0.0001 per share, is now registered on both the New York Stock Exchange (NYSE) and the Cboe BZX Exchange (CBSX). This dual listing could potentially increase liquidity and visibility for FOA stock, which matters to investors as it might lead to more trading activity and potentially a more stable stock price.

Why It Matters

The dual listing on NYSE and CBSX could enhance trading volume and accessibility for Finance of America's Class A Common Stock, potentially benefiting shareholders through improved liquidity.

Risk Assessment

Risk Level: low — This filing simply updates the exchanges where the company's stock is registered, which is a procedural and generally positive development with minimal risk.

Analyst Insight

A smart investor would note the dual listing as a positive step for liquidity and market access, potentially making FOA shares more attractive to a broader range of traders and institutions.

Key Numbers

• $0.0001 — Par value per share (par value of Finance of America's Class A Common Stock)

Key Players & Entities

• Finance of America Companies Inc. (company) — the registrant
• New York Stock Exchange (company) — exchange where FOA Class A Common Stock is registered
• Cboe BZX Exchange (company) — additional exchange where FOA Class A Common Stock is registered
• $0.0001 (dollar_amount) — par value per share of Class A Common Stock
• January 30, 2024 (date) — date of earliest event reported

Forward-Looking Statements

• Increased trading volume for FOA Class A Common Stock. (FOA) — medium confidence, target: Within 6 months
• Improved liquidity for FOA shares. (FOA) — medium confidence, target: Within 1 year

FAQ

Key Financial Figures

• $0.0001 — stered Class A Common Stock, par value $0.0001 per share FOA New York Stock Exchange
• $60.0 m — commitments for revolving borrowings of $60.0 million, a maturity date of November 30,
• $60.0 million — nder the Original Promissory Notes from $60.0 million to $85.0 million and extend their matur
• $85.0 million — Promissory Notes from $60.0 million to $85.0 million and extend their maturity date from Nov
• $90 million — sfer any unrestricted cash in excess of $90 million that the Guarantors hold on an aggregat
• $80 m — currence, the Guarantors hold more than $80 million, but less than $100 million, in u
• $100 m — ld more than $80 million, but less than $100 million, in unrestricted cash (the "Pre-S
• $25 million — "Cumulative Proceeds") are greater than $25 million but less than or equal to $50 million,
• $50 m — n $25 million but less than or equal to $50 million, FoA Equity must, within three bu
• $12.5 million — ays of such event, apply the sum of (A) $12.5 million plus (B) 100% of such Cumulative Procee
• $50 million — f such Cumulative Proceeds in excess of $50 million as a prepayment of the Amended Promisso

Filing Documents

• foa-20240130.htm (8-K) — 40KB
• 0001828937-24-000003.txt ( ) — 226KB
• foa-20240130.xsd (EX-101.SCH) — 2KB
• foa-20240130_def.xml (EX-101.DEF) — 19KB
• foa-20240130_lab.xml (EX-101.LAB) — 35KB
• foa-20240130_pre.xml (EX-101.PRE) — 19KB
• foa-20240130_htm.xml (XML) — 4KB

01. Other Events

Item 8.01. Other Events. As previously disclosed, in June 2019, Finance of America Equity Capital LLC ("FoA Equity"), a subsidiary of Finance of America Companies Inc. (the "Company"), entered into Revolving Working Capital Promissory Notes (as amended from time to time, the "Original Promissory Notes") with certain funds affiliated with Blackstone Inc. ("Blackstone") and an entity controlled by Brian L. Libman ("LFH" and together with Blackstone, the "Lenders"). The Original Promissory Notes provided for aggregate commitments for revolving borrowings of $60.0 million, a maturity date of November 30, 2024 and an interest rate per annum of 10% increasing to 15% per annum, effective May 15, 2024. The Original Promissory Notes were secured by tangible assets of FoA Equity, excluding pledges of equity interests, and certain Pledged Risk Retention Securities (as defined below) held by MM Risk Retention LLC, a wholly owned subsidiary of FoA Equity ("MM Risk"). On January 30, 2024, FoA Equity, MM Risk and the Lenders entered into an omnibus amendment (the "Amendment") to the Original Promissory Notes to, among other things, increase the aggregate commitments for revolving borrowings under the Original Promissory Notes from $60.0 million to $85.0 million and extend their maturity date from November 30, 2024 to May 25, 2025 (the Original Promissory Notes as amended by the Amendment, the "Amended Promissory Notes"). The Amended Promissory Notes continue to bear interest at a rate per annum equal to 10% increasing to 15% per annum, effective May 15, 2024. In addition, the Amended Promissory Notes have the benefit of a new guarantee and security agreement (as described below) and include certain restrictive covenants and mandatory prepayment events, in each case, as more particularly described below under "Covenants and Events of Default" and "Mandatory Prepayment," respectively. The terms of the Amendment and Amended Promissory Notes were approved by the Audit Committe

SIGNATURES

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. Finance of America Companies Inc. Dated: February 2, 2024 By: /s/ Matthew A. Engel Name: Matthew A. Engel Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR