Company: FOACW
Filing Date: 2025-05-23
Form Type: 10-Q/A
Source: 0001828937-25-000044
Chunk: 36

Company: Finance of America Companies Inc.
Filing Date: 2025-05-23
Form: 10-Q/A
Chunk 36
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, FoA Equity is generally prohibited under Delaware law from making a distribution to a member to the extent that, at the time of the distribution, after giving effect to the distribution, liabilities of FoA Equity (with certain exceptions) exceed the fair value of its assets. Subsidiaries of FoA Equity are generally subject to similar legal limitations on their ability to make distributions to FoA Equity.

As of September 30, 2024, the maximum allowable distributions available to the Company based on the most restrictive of such financial covenant ratios is presented in the table below (in thousands, except for ratios):

| Financial Covenants         
 FAR                         |     | Requirement |         |     | September 30, 2024 |         |     | Maximum Allowable Distribution(1) |         |
|:----------------------------|:----|:------------|--------:|:----|:-------------------|--------:|:----|:----------------------------------|--------:|
| Adjusted Tangible Net Worth |     | $           | 250,000 |     | $                  | 709,055 |     | $                                 | 459,055 |
| Liquidity                   |     |             |  40,000 |     |                    |  42,541 |     |                                   |   2,541 |
| Leverage Ratio              |     | 6:1         |         |     | 2.0:1              |         |     |                                   | 469,316 |
| FAH                         |     |             |         |     |                    |         |     |                                   |         |
| Adjusted Tangible Net Worth |     | $           | 200,000 |     | $                  | 696,386 |     | $                                 | 496,386 |
| Liquidity                   |     |             |  40,000 |     |                    |  44,620 |     |                                   |   4,620 |
| Leverage Ratio              |     | 10:1        |         |     | 2.3:1              |         |     |                                   | 533,677 |

(1) The Maximum Allowable Distribution for any of the originations subsidiaries is the lowest of the amounts shown for the particular originations subsidiary.

As of December 31, 2023, the maximum allowable distributions available to the Company based on the most restrictive of such financial covenant ratios is presented in the table below (in thousands, except for ratios):

| Financial Coven