FOXO Technologies Faces NYSE Delisting Risk Due to Low Stock Price

NYSE Issues Non-Compliance Notice to FOXO Technologies

FOXO Technologies Inc. (NYSE American: FOXO), a technology company applying epigenetic science and AI to modernize the life insurance industry, has received a notice of non-compliance from the New York Stock Exchange (NYSE) American LLC. The notice, issued on May 23, 2023, states that FOXO is not in compliance with the NYSE American's continued listing standards 1

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Reason for Non-Compliance

The non-compliance is due to the company's stock price falling below the NYSE American's minimum requirement. According to Section 1003(f)(v) of the NYSE American Company Guide, FOXO's securities have been selling for a low price per share for a substantial period 2

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Compliance Plan and Deadline

To regain compliance with the NYSE American's listing standards, FOXO Technologies must address the low selling price of its common stock by December 26, 2023. The company has confirmed its commitment to considering all available options to resolve the deficiency and regain compliance within the specified timeframe 1

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Potential Actions and Consequences

FOXO Technologies may need to implement a reverse stock split, subject to approval by the company's Board of Directors and shareholders, to address the low stock price issue. If the company fails to regain compliance by the deadline, it risks being delisted from the NYSE American exchange 2

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Impact on Current Trading

Despite the non-compliance notice, FOXO's common stock will continue to be listed and traded on the NYSE American exchange. However, the ticker symbol will carry an additional designation of ".BC" to indicate that the company is below compliance with the NYSE American's listing standards 1

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Company Background

FOXO Technologies Inc. is a technology company that aims to modernize the life insurance industry by applying epigenetic science and AI. The company's recent challenges highlight the difficulties faced by innovative firms in maintaining compliance with stock exchange listing requirements while navigating market fluctuations and investor sentiment 2

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