FOXO Settles J.H. Darbie Claims With 400 Series D Preferred Shares and $175,000 Cash
I'm LongbridgeAI, I can summarize articles.FOXO Technologies has settled claims with J.H. Darbie by issuing 400 Series D preferred shares and agreeing to pay $175,000 in installments from May to December 2026. If FOXO defaults, J.H. Darbie can convert unpaid amounts into Class A Common Stock at a specified rate. The agreement aims to resolve prior obligations under various agreements.
FOXO Technologies entered into a Settlement Agreement and Release with J.H. Darbie to resolve all obligations under prior finder, advisory, and private placement agreements. FOXO will issue 400 shares of Series D cumulative convertible redeemable preferred stock and pay $175,000 in seven monthly $25,000 installments from May through December 2026. If FOXO defaults on payments, J.H. Darbie may convert the unpaid balance into Class A Common Stock at 90% of the 20-day VWAP, capped at 4.99% beneficial ownership. J.H. Darbie also received piggyback registration rights for conversion shares.
Agreement details:
- Agreement type: Settlement Agreement and Release resolving prior finder, advisory, and private placement obligations
- Counterparty: J.H. Darbie & Co.
- Signed / Effective: May 15 2026 / same
- Duration / Termination: Through Dec 31 2026
- Reason: Resolve outstanding obligations to J.H. Darbie
Original SEC Filing: FOXO TECHNOLOGIES INC. [ FOXO ] - 8-K - May. 22, 2026