Company: FOACW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052025
Chunk: 74

Company: Finance of America Companies Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 74
---
September 30, 2025Maximum Allowable DistributionFARAdjusted Tangible Net Worth$250,000 $613,561 $363,561 Liquidity 43,257 82,150 38,893 Leverage Ratio 6:11.9:1420,752 FAHAdjusted Tangible Net Worth$200,000 $607,972 $407,972 Liquidity40,000 88,256 48,256 Leverage Ratio10:12.2:1474,867 Financial Covenants RequirementDecember 31, 2024Maximum Allowable DistributionFARAdjusted Tangible Net Worth$250,000 $501,883 $251,883 Liquidity 40,129 45,512 5,383 Leverage Ratio 6:12.7:1276,823 FAHAdjusted Tangible Net Worth$200,000 $502,744 $302,744 Liquidity 40,000 47,794 7,794 Leverage Ratio 10:12.9:1355,886 

10.    Notes PayableSenior NotesExchangeOn November 5, 2020, FOAF issued $350 million aggregate principal amount of senior unsecured notes due November 15, 2025 (the “2025 Unsecured Notes”). On October 31, 2024, FOAF completed an exchange with certain existing noteholders of the 2025 Unsecured Notes. Existing noteholders, representing 97.892% of the aggregate principal amount outstanding of the 2025 Unsecured Notes, exchanged their respective 2025 Unsecured Notes in consideration for (i) the issuance of (a) $195,783,947 of FOAF’s new 7.875% Senior Secured Notes due November 30, 2026 (the “Senior Secured Notes”), with FOAF’s option to extend until November 30, 2027, (b) $146,793,000 of FOAF’s new 10.000% Exchangeable Senior Secured Notes due November 30, 2029 (the “Exchangeable Secured Notes”) (collectively, the “Secured Notes”), and (ii) cash consideration of $856,555. FOAF is required to partially prepay in cash, by means of a redemption, a portion of the outstanding principal amount of the Senior Sec