Company: FOACW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052025
Chunk: 76

Company: Finance of America Companies Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 76
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 aggregate of $40 million of a new series of unsecured convertible promissory notes (the “Convertible Notes”). The Convertible Notes, funded and issued on August 4, 2025, mature on August 4, 2028, have a 0% coupon rate, and are convertible, in whole or in part, at the option of the Company or the holder into shares of Class A Common Stock at $18.00 per share for the first year following the issuance date or $19.00 per share starting one year from the issuance date, in each case, subject to customary adjustments. If neither the Company nor the holder elects to convert the Convertible Notes into shares of Class A Common Stock, the $40 million will be payable on the maturity date. The Company has elected to account for the Convertible Notes at fair value under the fair value option.Other Promissory NotesThe Company has an unsecured revolving working capital promissory note with Libman Family Holdings, LLC, a related party (the “LFH Promissory Note”), which did not have an outstanding balance as of September 30, 2025, and previously had two related party working capital promissory notes (the “Working Capital Promissory Notes”). Refer to Note 16 - Related Party Transactions for additional information.Notes payable consisted of the following (in thousands):September 30, 2025December 31, 2024DescriptionMaturity DateInterest RatePrincipal AmountUnamortized Debt Discount and Issuance CostsCarrying ValuePrincipal AmountUnamortized Debt Discount and Issuance CostsCarrying ValueSenior Secured NotesNovember 2026(1)7.875%$195,784 $(28,411)$167,373 $195,784 $(39,710)$156,074 Exchangeable Secured NotesNovember 202910.000%146,793 (17,762)129,031 146,793 (20,734)126,059 2025 Unsecured NotesNovember 20257.875%7,378 — 7,378 7,378 — 7,378 Working Capital Promissory Notes N/AN/A— — — 85,000 — 85,000 Total notes recorded at amortized cost349,955 $(46,173)303,782 434,955 $(60,444)374,511 Convertible Notes, recorded at fair valueAugust 202