FOXO Technologies Plans $22M Acquisition of South Florida Assisted Living Facility

FOXO Technologies has entered a non-binding agreement to acquire an assisted living and memory care facility in South Florida for $22 million, adding 87 licensed units to its healthcare services portfolio. Part of the purchase price, $5 million, will be paid in non-convertible preferred stock, with the acquisition completion subject to definitive agreements, due diligence, and financing. This move aligns with FOXO's strategic expansion in assisted living and behavioral health sectors, potentially adding over 350 units if all pending agreements close successfully. FOXO is also nearing a definitive agreement to acquire Vector Biosource, reinforcing its growth in healthcare operations. Despite this expansion, FOXO faces financial challenges including net losses, high debt, and negative cash flows, which have contributed to a bearish outlook on its stock. The company anticipates an improved financial performance in its upcoming Q2 2025 report, reflecting expected growth in net revenues and profitability.