FOXO Technologies, a technology company applying epigenetic science and AI to modernise the life insurance industry, has completed its special purpose acquisition (SPAC) with Delwinds.
FOXO first entered into a definitive merger agreement with SPAC company Delwinds Insurance Acquisition Corp in February this year.
The combined company will operate under the name FOXO Technologies Inc, and will be led by chief executive office Jon Saves.
Commencing at the open of trading on September 16, 2022, FOXO’s Class A common stock are expected to trade on the NYSE American exchange under the symbol “FOXO”.
The transaction was approved by Delwinds’ stockholders at its special meeting held on September 14, 2022. Over 91% of the votes cast on the business combination proposal at the special meeting were cast in favour of approving the business combination.
FOXO’s technology platform focussing on commercialising longevity science through product and service that serve the life insurance industry.
FOXO’s epigenetic technology applies AI to DNA methylation to identify molecular biomarkers of human health and aging. FOXO seeks to modernise the life insurance industry by simplifying the consumer underwriting journey with saliva-based biomarkers and enhancing life insurance’s consumer value proposition with its FOXO Longevity Report.
Sabes said, “The completion of this merger is a significant step forward in our mission to make healthy longevity fundamental to the promise of every life insurance policy sold.
“Our entry into the public markets strengthens our ability to commercialise our molecular biomarkers of health, aging and mortality with epigenetic technology… We are grateful for the support of the Delwinds leadership team and stockholders throughout this transaction and are more committed than ever to providing lasting value to our customers, our stockholders, and our partners.”
Andrew J. Poole, chairman and CEO of Delwinds, added,“With this milestone concluded, FOXO has a number of pivotal developments ahead, including its pioneering application of epigenetic science to measure human health and longevity through molecular biomarkers and commercializing saliva-based underwriting technology for the life insurance industry.”
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