Foxo Technologies Closes Second Acquisition From Rennova Health

MT Newswires Live09-17

Foxo Technologies (FOXO) said Tuesday it has completed the acquisition of Rennova Health's equity in Rennova Community Health, which owns Scott County Community Hospital.

Foxo said this is the second revenue-generating operation from Rennova Health that it acquired, with the first share exchange deal completed on June 14 for equity in Myrtle Recovery Centers, a behavioral health services provider.

Foxo said the terms of the share exchange deal for Rennova Community Health were amended on Sept. 10 to change the consideration to be received by Rennova in exchange for equity interests in Rennova Community Health for $22 million of intercompany Rennova debt and $100.

Rennova Community Health issued a $22 million senior note to Rennova, secured by its assets. The amendment gives Rennova Community Health the right to request Foxo to convert the note into $20 million of Foxo's series A preferred stock, Foxo said.

Shares of Foxo Technologies fell about 5.8% in recent trading.

Price: 0.17, Change: -0.01, Percent Change: -5.75

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