FOXO Technologies Inc. Announces 1-For-10 Reverse Stock Split; Will Become Effective At 4:01 p.m. ET On November 6, 2023
Portfolio Pulse from Benzinga Newsdesk
FOXO Technologies Inc. (NYSE:FOXO) has announced a 1-for-10 reverse stock split of its Class A common stock, effective at 4:01pm ET on November 6, 2023. The stock will begin trading on a split-adjusted basis on the NYSE American under the same symbol 'FOXO' on November 7, 2023. The reverse stock split was approved by the company's stockholders at the 2023 Annual Meeting. All outstanding stock options, warrants, and equity incentive plans will be proportionately affected.
October 27, 2023 | 9:32 pm
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FOXO Technologies' 1-for-10 reverse stock split may lead to a temporary increase in stock price due to reduced supply. However, the long-term impact will depend on the company's performance.
A reverse stock split reduces the number of shares in circulation, which can lead to a temporary increase in stock price due to reduced supply. However, the long-term impact on the stock price will depend on the company's performance and market conditions.
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