On September 10, 2024, Rennova Health, Inc. amended its agreement with FOXO Technologies Inc., altering the terms of their previous Stock Exchange Agreement. Initially, Rennova was to receive $20 million of convertible preferred stock in FOXO Technologies in exchange for its equity interest in Rennova Community Health, Inc. However, the amended terms now stipulate that Rennova will receive $100 and a senior secured note worth $22 million, maturing on September 10, 2026, with an interest rate starting at 8% and potentially increasing to 20% upon an event of default. The note is secured by assets of Rennova Community Health and Scott County Community Hospital, Inc., and guaranteed by FOXO Technologies and Scott County. Additionally, Rennova has the option to convert the note into FOXO Series A Preferred Stock. As...Show More

On September 10, 2024, Rennova Health, Inc. amended its agreement with FOXO Technologies Inc., altering the terms of their previous Stock Exchange Agreement. Initially, Rennova was to receive $20 million of convertible preferred stock in FOXO Technologies in exchange for its equity interest in Rennova Community Health, Inc. However, the amended terms now stipulate that Rennova will receive $100 and a senior secured note worth $22 million, maturing on September 10, 2026, with an interest rate starting at 8% and potentially increasing to 20% upon an event of default. The note is secured by assets of Rennova Community Health and Scott County Community Hospital, Inc., and guaranteed by FOXO Technologies and Scott County. Additionally, Rennova has the option to convert the note into FOXO Series A Preferred Stock. As part of the agreement, FOXO Technologies expanded its Board of Directors to five members, with Seamus Lagan and Trevor Langley from Rennova being elected to the board. Rennova now beneficially owns 1,023,629 shares of FOXO Technologies' Class A Common Stock, representing 7.51% of the outstanding shares. The company may consider further transactions with its stake in FOXO Technologies, including potential mergers, acquisitions, or other significant corporate changes.