Foa Launches New Stock Offering In Texas

Texas-based Finance of America (FOA), one of the nation’s leading reverse mortgage lenders, announced Thursday that it is offering a dual listing of its common stock on NYSE Texas. The newly launched equities exchange is headquartered in Dallas and FOA will be among the handful of founding members.

Finance of America will continue to trade on the New York Stock Exchange and will maintain the same “FOA” ticker symbol on NYSE Texas.

“As a company headquartered in Texas, Finance of America is honored to be a Founding Member of NYSE Texas,” Graham Fleming, the company’s CEO, said in a statement. “We believe this dual listing will broaden investor access and awareness of our mission — to educate more Americans on the value of home equity-based retirement solutions.”

“Finance of America is a leader in home equity financing for Americans over 55, and we are pleased to welcome them to our community of NYSE Texas Founding Members,” said Chris Taylor, chief development officer for the NYSE Group.

FOA’s stock had been underperforming in recent years, leading the NYSE to issue a pair of noncompliance warnings in late 2023 and early 2024 after share prices dropped below $1 during a 30-day trading period.

In July of last year, the company performed a reverse stock split with the intent of meeting its compliance obligations. The move appears to have had its intended effect as the stock immediately jumped to roughly $7 a share. As of Thursday, the price stood at $28.

The formation of NYSE Texas was announced in March and has been hailed as a boon for further economic growth in the Lone Star State. Texas has the most NYSE-listed companies among all states, representing $3.7 trillion in value. Gov. Greg Abbott said the move is expected to attract institutional investors, create jobs, and further cement Dallas as a center for finance and innovation.

Finance of America joins several other big-name companies in becoming founding members of NYSE Texas. Others that have been announced include AT&T, HF Sinclair Corp., Intercontinental Exchange and homebuilder D.R. Horton. Trump Media & Technology Group was the first addition to NYSE Texas earlier this year.

Earlier in August, FOA reported an $80 million profit in the second quarter of 2025. It funded $602 million in reverse mortgage volume from April through June, exceeding the top end of its guidance for investors and representing a 35% year-over-year increase.

The lender also announced during its earnings call that it had entered into a definitive agreement to repurchase the equity stake of Blackstone. It repaid the entirety of Blackstone’s working capital facility and it announced a new convertible debt facility with several of its “long-term supporters,” according to a press release.

FOA also said it has officially moved on from its longtime marketing campaign with actor Tom Selleck and into full implementation mode with its new branding effort, “A Better Way with FOA.”