Company: FOACW
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001193125-25-065614
Chunk: 64

Company: Finance of America Companies Inc.
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 64
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, but not including, the scheduled maturity date until, but not including, the extended maturity date. FOAF pays interest semi-annually in arrears on May 30 and November 30 of each year. FOAF is required to partially prepay a portion of the outstanding principal amount of the Senior Secured Notes on November 15, 2025 in an amount equal to $0.23 per $1.00 principal amount of Senior Secured Notes outstanding as of such date.

The Exchangeable Secured Notes accrue interest at a rate of 10.000% per annum and mature on November 30, 2029. FOAF pays interest semi-annually in arrears on May 30 and November 30 of each year. The Exchangeable Secured Notes are exchangeable into shares of the Company’s Class A Common Stock. The exchange rate (which is subject to adjustment) is initially 36.36364 shares of Class A Common Stock per $1,000 principal amount of Exchangeable Secured Notes, which is equivalent to an initial exchange price of $27.50 per share of Class A Common Stock. Holders of the Exchangeable Secured Notes have the right to exchange all or any portion of their Exchangeable Secured Notes at their option, at any time prior to the close of business on the second scheduled trading day immediately preceding November 30, 2029.

The Secured Notes are secured (on a pari passu basis with each other) on a junior basis to the Amended Promissory Notes described below, subject to a junior lien intercreditor agreement, by a second priority lien in the Initial Collateral and Additional Collateral securing the Amended Promissory Notes described below. Upon the termination of the Amended Promissory Notes, the Secured Notes will be secured on a pari passu basis, by a first priority lien in such Initial Collateral and the Additional Collateral described below.

In connection with the issuance of the Exchangeable Secured Notes, the Company, FOAF and U.S. Bank Trust Company, National Association, as trustee, entered into a registration rights agreement, dated as of October 31, 2024, pursuant to which the Company agreed to register the shares of Class A Common Stock deliverable upon exchange of the Exchangeable Secured Notes. We have filed a registration statement on Form S-3, which is pending effectiveness as of the date of this Proxy Statement.

As of December 31, 2023, Brian L