Delwinds Insurance (NYSE:DWIN) announced in an 8-K this morning that its shareholders approved its combination with insurtech firm FOXO at a special meeting September 14.
The SPAC had already tipped on Tuesday that 99.5% of its shares were redeemed in connection with the vote. But, this will not interfere with its deal’s closing as the transaction includes $22.5 million in convertible debt, a $40 million committed equity facility and an FPA to purchase up to 3,000,000 shares.
The parties now expect to close the transaction later today, after which the combined company’s shares are expected to trade under the symbol “FOXO” beginning on September 16.
The parties announced their $297 million combination earlier this year on February 24. Minneapolis, Minnesota-based FOXO Technologies utilizes AI-driven bioinformatics and technologies to develop and commercialize epigenetic biomarkers of health and aging for the life insurance industry.
ADVISORS
- Deutsche Bank Securities acted as exclusive financial advisor to FOXO.
- RBC Capital Markets acted as Exclusive Financial Advisor to Delwinds.
- RBC Capital Markets and Cantor Fitzgerald acted as Capital Markets Advisors to Delwinds.
- Houlihan Lokey provided additional financial advice to the Delwinds board of directors.
- Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC acted as placement agents for the convertible debenture and redemption backstop.
- Mitchell Silberberg & Knupp and Stinson LLP acted as legal advisors to FOXO.
- Ellenoff, Grossman & Schole LLP acted as legal advisor to Delwinds while Lamson, Dugan and Murray LLP acted as insurance regulatory counsel to Delwinds.
- Proskauer Rose LLP is serving as legal advisor to Cohen & Company Capital Markets.


McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...
Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....