FOXO Technologies Inc. announced that it has entered into stock purchase agreement with three accredited investors to issue in two separate tranches each, an aggregate of up to 3,668,750 shares of the company?s Class A common stock, par value $0.0001 per share at a price of $0.08 per share for aggregate gross proceeds of $293,500 on August 23, 2023. The shares issued and to be issued pursuant to the stock purchase agreement were, and will be, sold pursuant to an exemption from the registration requirements under Section 4(a)(2) of the Securities Act of 1933, as amended and Rule 506 of Regulation D promulgated thereunder.

On the same day, the company issued an aggregate of 1,834,375 shares of common stock in it first tranche and agreed to purchase an aggregate of 1,834,375 additional shares of common stock upon the effectiveness of the Resale Registration Statement.