08:54 AM EST, 02/24/2025 (MT Newswires) -- 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 ( FOXO ) shares were 43% higher in recent trading.