India, July 18 -- FOXO Technologies Inc. (FOXO), Friday announced its intention to spin-off its subsidiary FOXO Labs, Inc., a biotechnology company focusing on the development of epigenetics business.
CEO Mark White believes that spinning the subsidiary would create the best opportunity to deliver the company's business strategy as well as create value for FOXO and its shareholders.
The company is planning to deliver the spin-off as the earliest.
In the pre-market hours, FOXO's stock is trading at $0.1163, down 6.66 percent on the New York Stock Exchange American.
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