02:41 PM EST, 12/11/2024 (MT Newswires) -- Foxo Technologies ( FOXO ) said Wednesday it has appointed Seamus Lagan as chief executive officer, starting immediately.

Most recently, Lagan was the CEO of Foxo's ( FOXO ) subsidiary, Rennova Community Health, FOXO ( FOXO ) said.

The company also announced restructuring initiatives, including a stock swap to reduce debt. Rennova Health exchanged $21 million of a senior secured note into 21,000 Foxo ( FOXO ) series A preferred shares, the company said.

Another institutional investor swapped $2.2 million of senior notes for 2,464 series A preferred shares, including additional funding of $1 million, Foxo ( FOXO ) said. These actions aim to improve the balance sheet and support growth, Foxo ( FOXO ) added.

Shares fell 7% in recent trading.

Price: 0.46, Change: -0.04, Percent Change: -7.14