FOXO Technologies agrees to acquire preferred stock carrying majority voting power in Ludwig Enterprises
LUDG•FOXO Technologies agreed to acquire Ludwig Enterprises preferred stock carrying a majority of its voting power and to purchase certain Ludwig notes from Thomas E. Terwilliger. The deal is subject to conditions including a Nasdaq listing, satisfactory financing and due diligence; sellers may terminate if the listing and related public offering are not completed within 120 days of signing, absent a waiver.
1. Deal conditions
FOXO Technologies agreed to acquire preferred stock in Ludwig Enterprises carrying a majority of its voting power and to purchase certain Ludwig notes from Thomas E. Terwilliger. Selling stockholders granted irrevocable voting proxies over the preferred shares but retain ownership until closing. Closing is subject to a Nasdaq listing, satisfactory financing and due diligence, among other conditions. Sellers may terminate unless the Nasdaq listing and related public offering are completed within 120 days of signing, absent a waiver.
