Why Is Abacus Life (ABL) Stock Down 18% Today?

Abacus Life (NASDAQ:ABL) stock is falling on Friday after the alternative asset manager and market maker announced the pricing of a public offering for its shares.Abacus Life is selling 10 million shares of ABL stock for $8 each. The offer also includes a 30-day option for underwriters to acquire another 1.5 million shares. Piper Sandler & Co., TD Securities (USA) LLC, B. Riley Securities and KKR Capital Markets LLC are the joint book-running managers for the underwriters.Abacus Life notes that it expects g ...