Core Viewpoint - Abacus Life, Inc. has successfully priced an oversubscribed public offering of 10,000,000 shares at $8.00 per share, aiming to raise approximately $80 million in gross proceeds before expenses [1][2]. Group 1: Offering Details - The public offering includes a 30-day option for underwriters to purchase an additional 1,500,000 shares at the same price [1]. - The offering is expected to close on June 24, 2024, subject to customary closing conditions [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for operations, including the purchase of life settlement policies, working capital, and general corporate purposes, which may involve repayment and refinancing of existing debt [2]. Group 3: Company Overview - Abacus Life, Inc. is a leading alternative asset manager specializing in longevity and actuarial technology, with over $5 billion in face value of life insurance policies purchased since 2004 [5]. - The company operates under the ticker symbol ABL on the Nasdaq Exchange and is recognized as the only public life settlement company [5].
Abacus Life Announces Pricing of Public Offering of Common Stock