Foxo technologies to acquire two assisted shared apartments in Florida for $ 60 million

Foxo Technologies in Minneapolis has concluded a non-binding acquisition contract in order to acquire two assisted shared apartments in Florida for around $ 30 million each. One community has 129 units and the other has 137 units.

“The company has structured the acquisitions with milestone payments in connection with increased income in the facilities and is of the opinion that these acquisitions will create a practical acquisition model for the company in order to pursue additional value -added quisitions for Foxo in the future,” said CEO Seamus Lagan in a press release.

The parties expect that the final agreements will be concluded from 60 days after the non -binding contract, whereby the closure is expected to take place between 60 and 120 days later.

“We cannot confirm that the Due Diligence will have a successful result or that we can successfully secure the capital for a new series of preferred shares or list this preferred inventory, which is seen as a financing mechanism for the conclusion of these acquisitions, we are optimistic that we can complete these acquisitions as planned,” said Lagan.

Foxo has and operates three subsidiaries. Rennova Community Health owns and operates the Scott County Community Hospital in East Tennessee. Myrtle Recovery Centers operates a behavioral health facility with 30 beds in East Tennessee. Foxo Labs is a biotechnology company that works to improve human health and lifespan through the development of technology and products for various industries.