Foxo Technologies (FOXO) said Monday it has executed a non-binding agreement to acquire two assisted-living facilities in Florida for about $60 million.
One facility has 129 units, while the other has 137 units. The purchase price for each facility is expected to be $30 million, a portion of which is milestone-based, the company said.
The parties aim to complete definitive agreements within 60 days, with closing expected between 60 and 120 days afterwards, subject to a number of closing conditions, including satisfactory due diligence and financing, the company said.
Foxo shares were 43% higher in recent trading.
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