FOXO Technologies Inc. has signed a stock purchase agreement to acquire Vector Biosource Inc., a provider in the biotechnology, clinical research, and pharmaceutical research industries.
The acquisition is valued at $500,000 in cash, 60,000 shares of Series E Preferred Stock ($1.5 million), warrants to purchase $2 million of common stock, and potential additional shares of Series E Preferred Stock based on milestones.
Closing conditions include due diligence and finalizing agreements; FOXO to fund up to $1.2 million for Vector's growth initiatives.
Acquisition Details
Acquisition valued at $500,000 cash, 60,000 shares of Series E Preferred Stock, warrants, and potential additional shares based on milestones.
Strategic Growth Plans
FOXO and Vector aim to expand through organic growth and potential acquisitions post-acquisition.
Partnership Benefits
Partnership to provide growth capital, infrastructure, and synergies for Vector's growth plans.
- The acquisition of Vector Biosource Inc. aligns with FOXO's strategy to expand its presence in the healthcare services sector.
- FOXO's partnership with Vector is expected to enhance both companies' growth potentials and create synergies for future development.
The agreement with Vector Biosource Inc. marks a strategic move for FOXO Technologies Inc. to strengthen its position in the healthcare services industry through strategic acquisitions and growth initiatives.