Foxo Technologies regains compliance with SEC reporting requirements

FOXO Technologies has filed its Form 10-Q for the quarter ended March, 31, 2024 and in doing so has regained compliance with SEC reporting requirements. The Company closed the previously announces Myrtle transaction on June 14, 2024 and simultaneously secured a commitment for up to $2.5M of additional capital. Myrtle Recovery Centers, Inc. is a 30 bed behavioral health facility in East Tennessee. It provides inpatient services for Detox and Residential Treatment and outpatient services for MAT and OBOT Programs. The facility was opened in August 2023 and has secured an in-network contract with one of the major health insurance companies in Tennessee and is in the final stages of securing various other in-network contracts to facilitate payment for services. The Company anticipates this transaction will provide profitable annual revenues of approximately $3-4M with plans to grow revenues and duplicate the model in different locations. Closing of the previously announced Scott Country transaction to acquire a rural hospital remains subject to a shareholder vote and other conditions and is expected to close in the third quarter of 2024.