Foxo Technologies receives noncompliance notice from NYSE

Foxo Technologies reported that it has received an official notice of noncompliance from NYSE Regulation stating that the company is not in compliance with NYSE American continued listing standards due to an outstanding balance of listing fees over 180 days old and NYSE provided the company until June 7, 2024 to provide payment before the company would become subject to the noncompliance procedures. Although the company failed to pay the fee by the June 7, 2024 deadline, the company has subsequently made the required payments and believes it is now in a position to regain compliance. Mark White, Interim CEO of FOXO, said, “We regret the delinquency, which was due to short-term capital allocation strategies, including our recently announced planned acquisitions, which we believe will contribute meaningful cashflow for the combined companies. Importantly, we have since made the payment and look forward to formally presenting this to the NYSE American. While there can be no assurances, we expect to formally regain compliance with the NYSE American continued listing standards in the near future.”