FOXO CEO Seamus Lagan Steps In as Interim CFO After Sudden Passing of Finance Chief Martin Ward

FOXO Technologies Inc. (NYSE:FOXO) ("FOXO" or the "Company") today announced that it formed a new, wholly-owned subsidiary intended to be used to acquire identified acquisition targets in the healthcare services and related sectors.

On June 13, 2025, the Company formed FOXO Acquisition Corporation, a Florida corporation, for the purpose of acquiring targeted acquisitions. The Company also intends to create a new series of non-convertible preferred stock with a goal to have this preferred stock publicly listed (with its own trading symbol) and use it to as a mechanism to complete such acquisitions. The new series of preferred stock is anticipated to generate both cash and common stock dividends for investors/owners and have a secured interest in the acquisition vehicle which will own the acquired businesses.

"We are excited to be taking one of the first tangible steps of our planned acquisition strategy," said Seamus Lagan, Chief Executive Officer of FOXO. "We believe we can secure the funding we need in a manner that is non-dilutive to our common stockholders and target acquisitions with significant growth opportunities and/or surplus cash flow that will create long-term value for our common stockholders."

We also are announcing the passing of our Interim Chief Financial Officer, Martin Ward on June 9, 2025.

"It is with deep regret and profound sadness that I announce Martin's recent passing. Martin was a valuable contributor to our team and he will be sorely missed. My deepest condolences go out to the Ward family," said Seamus Lagan, CEO.

On June 13, 2025, Mr. Lagan was appointed as Interim Chief Financial Officer as the search for a more permanent appointment is underway.