Jun. 29 at 4:58 PM
$FOXO super post/thread 👇 DELISTING of Common,
$RNVA /Foxo mgmt desperation / survival of a listed security -- the real reasons for Preferred "E" and Foxo Acquisition co !
Foxo mgmt Plan B:
1. Common stock
$FOXO
a. price below
$1
b. R/S at most 1: 1.99 (NYSE American exchange rule of at most 1:200 in a two-year period)
c. price near falling below
$0.10 delisting point
2. Create new listed security FOXO Preferred "E" , so that if Common is delisted, then there is a security that can be traded
3. Create new company Foxo Acquisition of which the security is Foxo Preferred E.
Also, if/when Foxo mgmt desires, they can move some businesses from Foxo to Foxo Acquisition and Foxo COMMON stock will be abandoned
Isn't that what
$RNVA did when it made a deal with
$FOXO to sell some businesses to Foxo, and
$RNVA common stock abandoned / left to rot at
$0.000001 ??
https://x.com/mgyahoo1/status/1938988994517192993