Core Viewpoint - Abacus Life, Inc. is actively executing a $15 million stock repurchase program, having repurchased 553,150 shares at an average price of $10.92, totaling approximately $6.0 million, with $9.0 million remaining under the program [1][2]. Company Overview - Abacus is a leading buyer of life insurance policies and a vertically integrated alternative asset manager specializing in specialty insurance products [1][7]. - The company has purchased life insurance policies with a total face value exceeding $4.6 billion since its inception in 2004, helping clients maximize the value of their life insurance [7][8]. - Abacus operates in 49 states and has established long-term relationships with 78 institutional partners and 30,000 financial advisors [8]. Stock Repurchase Program - The stock repurchase program was initially announced on December 12, 2023, and is set to expire on June 10, 2025, unless suspended or discontinued earlier [1]. - The company may utilize various methods for repurchasing shares, including open market transactions and block trades, and will determine the timing and amount based on several factors [2]. Leadership Perspective - The CEO expressed satisfaction with the progress of the repurchase program and highlighted the long-term growth opportunities for the company [2].
Abacus Life Repurchases Total of $6 Million of Stock in First 60 Days of Program