Brian L. Libman - Oct 31, 2024 Form 4 Insider Report for Finance of America Companies Inc. (FOA)

Signature
Brian L. Libman, By: /s/ Brian L. Libman, Name: Brian L. Libman
Stock symbol
FOA
Transactions as of
Oct 31, 2024
Transactions value $
$33,121,000
Form type
4
Date filed
11/4/2024, 05:56 PM
Previous filing
May 15, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction FOA 10.000% Exchangeable Senior Secured Notes due 2029 Award $33.1M $33.1M Oct 31, 2024 Class A Common Stock 1.2M See Footnote F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On October 31, 2024, Finance of America Funding LLC ("FOA Funding"), a subsidiary of Finance of America Companies Inc. (the "Issuer"), completed certain exchange offer and consent solicitations transactions, including the exchange of $342,622,000 of FOA Funding's existing 7.875% Senior Notes due 2025 (the "2025 Unsecured Notes") for (i) $195,783,947 of FOA Funding's new 7.875% Senior Secured Notes due 2026, (ii) $146,793,000 of FOA Funding's new 10.000% Exchangeable Senior Secured Notes due 2029 (the "New Exchangeable Notes") and (iii) cash consideration of $856,555 (such transactions, the "Exchange Offer"). In the Exchange Offer, Libman Family Holdings, LLC exchanged $77,284,000 in principal amount of 2025 Unsecured Notes for consideration including $33,121,000 in principal amount of New Exchangeable Notes.
F2 Holders of the New Exchangeable Notes have the right to exchange all or any portion of such notes at their option, subject to certain limitations as further described in the indenture governing the New Exchangeable Notes (the "Indenture"). The New Exchangeable Notes are exchangeable on the terms set forth in the Indenture into shares of the Issuer's Class A common stock ("Class A Common Stock") or, at the election of FOA Funding, exchange may be settled in part or in whole by delivery of the cash value of the shares otherwise deliverable (to the extent that the Issuer determines in good faith that it would be in the best interest of Issuer to do so for specified tax reasons). The exchange rate is initially 36.36364 shares of Class A Common Stock per $1,000 principal amount of New Exchangeable Notes, which is equivalent to an initial exchange price of approximately $27.50 per share of Class A Common Stock, subject to adjustment as provided in Indenture.
F3 Reflects securities held directly by Libman Family Holdings, LLC. The sole manager of Libman Family Holdings, LLC is Brian L. Libman.