FOXO Technologies completes Vector Biosource acquisition

FOXO Technologies Inc. (OTCQB: FOXO) announced it has completed the acquisition of Vector Biosource Inc., a data and biospecimen sourcing provider for biotechnology and pharmaceutical research companies.

The purchase price totaled approximately $4 million, consisting of $500,000 in cash, 60,000 shares of Series E Cumulative Redeemable Secured Preferred Stock valued at $1.5 million, and warrants to purchase $2 million of common stock at a 10% premium to the closing price. An additional 80,000 preferred shares worth up to $2 million may be issued based on revenue and cash collection milestones over the next 12 to 24 months. FOXO also agreed to fund up to $1.2 million for Vector's growth initiatives.

Vector generated approximately $225,000 in net revenues during the second quarter of 2025, representing a $900,000 annual run rate. The company provides information, data and biospecimen sourcing services to biotechnology, clinical research and pharmaceutical research industries.

"We are pleased to have closed the Vector acquisition and look forward to working with Vector senior management on internal and external growth opportunities," said Seamus Lagan, Chief Executive Officer of FOXO.

Vector CEO Frank Dias Jr. stated the company is "excited to be part of FOXO and believe the partnership with FOXO will allow Vector to achieve its aggressive growth plans."

FOXO operates three subsidiaries: Rennova Community Health, which owns a critical access hospital in Tennessee; Myrtle Recovery Centers, a behavioral health facility; and FOXO Labs, a biotechnology company focused on health and life span technologies.

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