Delwinds Insurance Acquisition scheduled a Sept. 13 meeting for shareholders to vote on a deadline extension that would give the SPAC another three months to finalize its merger agreement with FOXO Technologies. A favorable vote would extend the deadline from Sept. 15 to Dec. 15.
A shareholder vote on the FOXO deal was originally scheduled for June 6, later postponed.
As announced in February, the transaction combined with recent capital raising by FOXO is expected to raise up to $224 million in total gross cash proceeds, including up to $201 million of cash held in Delwinds’ trust account, assuming no redemptions.
There is no minimum cash closing requirement.
FOXO applies epigenetic science and AI to modernize the life insurance industry. The combined company would have an estimated enterprise value of $369 million. Read more.
