FOXO to Buy 71% of Ludwig Preferred, Securing 57.7% Voting Control
LUDG sits 30% above its 52-week low of $0.003 on light trading volume (0.3× avg).
Summary
FOXO Technologies agreed to acquire 5,000,000 Ludwig preferred shares for $2.25M of new FOXO preferred stock, gaining proxies for about 57.7% of Ludwig's voting power now and roughly 74.9% of its common stock if the deals close.
Key Events · M&A and Partnerships · LUDG
-
FOXO to Buy 71% of Ludwig Preferred
FOXO agreed on 2026-10-25 to buy 5,000,000 of Ludwig's 7,000,000 preferred shares: 3,000,000 from the Thomas E. Terwilliger Revocable Trust and 2,000,000 from Vasaio Capital.
-
Payment in FOXO Series F Preferred
Consideration is 2,250,000 new FOXO Series F preferred shares with $2.25M aggregate stated value: 1,250,000 shares for the Trust stake and 1,000,000 for Vasaio. No cash changes hands for the preferred shares.
-
Proxies Deliver Voting Control Now
Irrevocable proxies give FOXO shared voting power over 500,000,000 Ludwig votes, about 57.7% of combined voting power, before closing. On an as-converted basis FOXO would hold about 74.9% of Ludwig common stock.
-
Closing Hinges on Nasdaq Listing
Closing requires FOXO common stock to be approved for Nasdaq listing and a completed FOXO financing. Sellers may terminate if that is not done within 120 days of signing.
Analysis · LUDG · Industrial Applications And Services
Control of Ludwig is set to change hands before the deals even close. Under agreements signed October 25, FOXO Technologies will buy 5,000,000 of Ludwig's 7,000,000 preferred shares from two holders, paying with 2,250,000 new FOXO Series F preferred shares carrying $2.25M stated value. Irrevocable proxies already give FOXO the vote on those shares—about 57.7% of Ludwig's combined voting power. If completed, FOXO would hold roughly 74.9% of Ludwig common stock on an as-converted basis and could replace the board and management. The catch: closing depends on FOXO getting a Nasdaq listing and completing a financing, and the sellers can walk if that is not done within 120 days. Public information on the target is thin, moreover, since Ludwig stopped being a fully reporting company on August 19, 2026.
How filings like this one have moved
In the 30 days to Oct 30, 2026, 48.8% of the 217 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -1.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, LUDG was trading at $0.00 on OTC in the Industrial Applications And Services sector, with a market capitalization of approximately $585.1K. The 52-week trading range was $0.00 to $0.20. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.