Abacus Life Announces Closing of Public Offering of 12,500,000 Shares of Common Stock

Core Points - Abacus Life, Inc. has successfully closed an oversubscribed public offering of 12,500,000 shares at a price of $8.00 per share, raising approximately$100 million in gross proceeds [1] - The offering consisted of 10,000,000 shares sold by the Company and 2,500,000 shares sold by certain stockholders, with the Company raising about $80 million from the primary offering [1][2] - The net proceeds will be utilized for operations, including the purchase of life settlement policies, working capital, and potential acquisitions [2] Company Overview - Abacus is a pioneering alternative asset manager specializing in longevity and actuarial technology, focusing on uncorrelated financial products [6] - The Company manages nearly$3 billion in assets, making it the only publicly traded global alternative asset manager dedicated to lifespan-based financial products [7] Underwriting and Regulatory Information - The offering was managed by Piper Sandler & Co., TD Securities (USA) LLC, KKR Capital Markets LLC, B. Riley Securities, Inc., and SG Americas Securities, LLC [3] - The registration statements for the offering were declared effective by the SEC on November 14, 2024, with final prospectus supplements filed on November 25, 2024 [4]