FOXO TECHNOLOGIES INC. Faces Delisting Concerns

TL;DR

FOXO might get delisted, stock could be toast.

AI Summary

FOXO TECHNOLOGIES INC. filed an 8-K on July 16, 2024, reporting a notice of delisting or failure to satisfy continued listing rules as of July 10, 2024. The company, formerly known as Delwinds Insurance Acquisition Corp., is based in Minneapolis, MN.

Why It Matters

This filing indicates potential issues with FOXO TECHNOLOGIES INC.'s ability to remain listed on its exchange, which could significantly impact its stock liquidity and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's continued trading and market viability.

Key Players & Entities

• FOXO TECHNOLOGIES INC. (company) — Registrant
• Delwinds Insurance Acquisition Corp. (company) — Former company name
• July 10, 2024 (date) — Date of earliest event reported
• July 16, 2024 (date) — Date of report
• Minneapolis, MN (location) — Company business address

FAQ

Key Financial Figures

• $0.0001 — tered Class A Common Stock, par value $0.0001 FOXO NYSE American Indicate by ch
• $14.9 — e it reported stockholders' deficit of ($14.9) million as of March 31, 2024, and loss

Filing Documents

• ea0209518-8k_foxo.htm (8-K) — 32KB
• ea020951801ex99-1_foxo.htm (EX-99.1) — 11KB
• ex99-1_001.jpg (GRAPHIC) — 7KB
• 0001213900-24-061760.txt ( ) — 229KB
• foxow-20240710.xsd (EX-101.SCH) — 3KB
• foxow-20240710_lab.xml (EX-101.LAB) — 33KB
• foxow-20240710_pre.xml (EX-101.PRE) — 22KB
• ea0209518-8k_foxo_htm.xml (XML) — 4KB

01. Notice of Delisting or Failure to Satisfy a Continued

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard Transfer of Listing. On July 10, 2024, FOXO Technologies Inc., a Delaware corporation (the " Company "), received an official notice of noncompliance (the " NYSE American Notice ") from NYSE Regulation (" NYSE ") stating that the Company is not in compliance with Section 1003(a)(ii) of the Company Guide since it reported stockholders' deficit of ($14.9) million as of March 31, 2024, and losses from continuing operations and/or net losses in its three most recent fiscal years ended December 31, 2023 (the " Delinquency "). The Company is now subject to the procedures and requirements set forth in Section 1009 of the Company Guide. The Company also remains subject to the conditions set forth in NYSE's letters dated June 12, 2023 (Initial Equity Notification), August 29, 2023 (Plan Acceptance Letter) for stockholders' equity noncompliance, and June 10, 2024 for past due listing fee noncompliance. If the Company is not in compliance with each respective compliance deadline or does not make progress consistent with each respective plan during such plan periods, NYSE will initiate delisting proceedings as appropriate. The Company may appeal a staff delisting determination in accordance with Section 1010 and Part 12 of the Company Guide. The Company was required to contact NYSE by July 16, 2024 to confirm receipt of the NYSE American Notice and discuss any new developments of which NYSE staff may be unaware. The Company intends to regain compliance with the NYSE American continued listing standards. There can be no assurance that the Company will ultimately regain compliance with all applicable NYSE American listing standards.

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On July 16, 2024, the Company issued a press release announcing its receipt of the NYSE American Notice. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information under this Item 7.01, including Exhibit 99.1 hereto, is being furnished herewith and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing. Furthermore, the furnishing of information under Item 7.01 of this Current Report on Form 8-K is not intended to constitute a determination by the Company that the information contained herein, including the exhibit hereto, is material or that the dissemination of such information is required by Regulation FD. Cautionary Statement Regarding Forward-Looking Statements This Current Report on Form 8-K contains "forward-looking statements." Any statements contained in this Current Report on Form 8-K that do not describe historical facts may constitute forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "if," "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology and include statements regarding the NYSE American Notice and whether the Company will regain compliance with the NYSE American's continued listing standards. These forward-looking statements are based on information currently available to the Company's management as well as estimates and assumptions made by its management and are subject to risks and uncertainties that may cause actual resu

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press Release dated July 16, 2024 104 Cover Page Interactive Data File (embedded within Inline XBRL document) 1

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. FOXO Technologies Inc. Date: July 16, 2024 By: /s/ Mark White Name: Mark White Title: Interim Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR