SPACInsider Logo
Delwinds Insurance (DWIN) Shareholders Approve FOXO Deal
by Nicholas Alan Clayton on 2022-09-15 at 7:06am

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.
Recent Posts
by Kristi Marvin on 2023-02-04 at 12:57am

Terms Tracker for the Week Ending February 3, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. The month of February started with an IPO, thanks to the pricing of Cetus Capital Acquisition Corp (Nasdaq: CETU) which began trading on February 1....

by Marlena Haddad on 2023-02-03 at 5:50pm

Forest Road II (NYSE:FRXB) and 10X Capital Venture III (NYSE:VCXB) both announced this afternoon that they have mutually terminated their business combinations. Forest Road II intended to combine with transportation technology developer HyperloopTT, but the parties decided to nix the deal due to timing constraints along with unfavorable market conditions. Tom Staggs and Kevin Mayer, Co-CEOs and...

by Marlena Haddad on 2023-02-03 at 5:30pm

Intelligent Medicine Acquisition Corp. (NASDAQ:IQMD) and AMCI Acquisition Corp. II (Nasdaq: AMCI) announced this afternoon that they have adjourned their special meetings with shareholders. Intelligent Medicine originally scheduled its meeting to be held today, but is now postponing its vote until Wednesday, February 8. Stockholders may elect to redeem their shares by no later than...

by Marlena Haddad on 2023-02-03 at 11:41am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Comcast dumps 18.5% of its BuzzFeed stock Comcast Dumps 6 Million Shares of Buzzfeed After Media Company Finally Gets a Bump Comcast dumped 18.5% of its BuzzFeed (NASDAQ:BZFD) stock in recent days, reducing its...

by Nicholas Alan Clayton on 2023-02-03 at 11:37am

Viveon Health (NYSE:VHAQ) announced this morning that it is unilaterally terminating its combination with Suneva Medical “based upon material breaches” of the merger agreement. The SPAC did not elaborate further on its claims against Suneva, but noted it will continue on and seek a new business combination. Just last week, Viveon Health was working to...

Privacy Policy|Terms Of Use
Copyright © 2023 SPACInsider, Inc. All Rights Reserved