On September 19, 2023, Foxo Technologies Entered Into A Shares For Services Agreement With Mitchell Silberberg & Knupp Under Which The Company Issued To MSK 2,928,662 Shares And Rights To Receive 5,110,263 Shares Of Class A Common Stock
Portfolio Pulse from Charles Gross
Foxo Technologies has entered into a shares for services agreement with Mitchell Silberberg & Knupp (MSK). Under the agreement, Foxo issued 2,928,662 shares and rights to receive 5,110,263 shares of Class A common stock to MSK.
September 19, 2023 | 9:32 pm
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Foxo Technologies' shares for services agreement with MSK could potentially dilute existing shareholders' equity.
The issuance of new shares and rights to receive shares by Foxo Technologies to MSK under the shares for services agreement could lead to dilution of existing shareholders' equity. This is because the increase in the number of outstanding shares reduces the proportion of the company that each existing shareholder owns. This could potentially have a negative impact on the company's stock price in the short term.
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IMPORTANCE 75
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