Key Highlights:
- FOXO Technologies Inc. (FOXO, Financial) completes significant 1-for-10 reverse stock split.
- Reduction in outstanding shares from 38.7 million to 3.87 million.
- Continued trading under the ticker FOXO with adjusted equity instruments.
FOXO Technologies' Strategic Move: Reverse Stock Split
FOXO Technologies Inc. (FOXO) has successfully implemented a 1-for-10 reverse stock split, a strategic financial maneuver that has reduced its total outstanding shares from 38.7 million to 3.87 million. This significant adjustment reflects the company's ongoing efforts to optimize its capital structure and enhance shareholder value.
Implications for Shareholders
The common stock of FOXO Technologies will continue to be traded under the ticker symbol FOXO, providing consistency for current and prospective investors. It's important to note that, in line with the reverse split, equity instruments have been adjusted accordingly, and no fractional shares have been issued, thus simplifying the ownership structure and potentially increasing the stock's market appeal.
