Finance of America announces date for reverse stock split

Finance of America expects its intended 1-for-10 reverse stock split of its outstanding shares of Class A Common Stock, previously disclosed on June 27, to be effective as of July 25. The company’s Class A Common Stock is expected to begin trading on a split-adjusted basis on the NYSE under the existing symbol when the market opens on July 26. The new CUSIP number for the company’s Class A Common Stock following the reverse stock split will be 31738L 206. With respect to the company’s warrants, every ten shares of Class A Common Stock that may be purchased pursuant to the exercise of warrants prior to the effective time represent one share of Class A Common Stock that may be purchased pursuant to such warrants following the effective time. The exercise price for each warrant following the Effective Time equals the product of ten multiplied by the exercise price prior to the Effective Time. Accordingly, the exercise price for the Company’s public warrants will be $115. The CUSIP number for the company’s warrants will not change. The reverse stock split is primarily intended to increase the per share trading price of Finance of America’s Class A Common Stock in order to meet the NYSE’s price criteria for continued listing.