Abacus Life Announces Warrant Exchange Agreements
ORLANDO, Fla., Feb. 24, 2025 (GLOBE NEWSWIRE) — Abacus Life, Inc. (NASDAQ: ABL), a company that uses longevity and actuarial tech to offer investment options, has entered into warrant exchange agreements.
The agreements are with certain holders of its publicly traded warrants. These warrants allow the holders to buy shares of the company’s stock.
According to the agreements, the holders will give up a total of 4,930,745 Public Warrants. In return, they’ll get 1,134,071 shares of newly issued common stock. This is a ratio of 0.23 shares per warrant.
The Public Warrants were initially issued during the company’s initial public offering. They allow holders to buy up to 17,250,000 shares of common stock at $11.50 per share.
Each warrant lets the holder buy one share of common stock at $11.50, subject to adjustments as described in the original warrant agreement.
The Public Warrants are a separate financial instrument listed on The Nasdaq Stock Market LLC under the symbol “ABLLW.” They can be used independently from the related shares of Common Stock.
About Abacus: Abacus is a global alternative asset manager specializing in uncorrelated financial products. The company uses longevity data and actuarial tech to buy life insurance policies from people seeking cash.
This creates a high-return asset class not affected by market changes for institutional investors. With almost $3 billion in assets under management, including pending acquisitions, Abacus is the only publicly traded global alternative asset manager focused on lifespan-based financial products.
Forward-Looking Statements: This press release includes forward-looking statements. These statements rely on assumptions about future events and are subject to risks and uncertainties that may cause actual results to differ. These include but are not limited to the proposed transaction’s expected closing, Abacus’s financial and operational strategies, and the benefits thereof.
These forward-looking statements can usually be identified by words such as “believe,” “project,” “estimate,” “expect,” “intend,” “anticipate,” “goals,” “prospects,” “will,” “would,” “will continue,” “will likely result,” and similar expressions.
Abacus believes the assumptions about future events are reasonable but warns that predicting these factors that could impact the future performance can be difficult.
Factors that could cause results to differ include: that Abacus’s loss reserves are based on estimates and may be inadequate to cover actual losses, the failure to properly price Abacus’s insurance policies, the geographic concentration of Abacus’s business, the cyclical nature of its industry, the impact of regulation on Abacus’s business, the effects of competition on Abacus’s business, the failure of Abacus’s relationships with independent agencies, the failure to meet Abacus’s investment objectives, the inability to raise capital on favorable terms or at all, the effects of acts of terrorism, and the effectiveness of Abacus’s control environment, including the identification of control deficiencies.
Abacus cautions you not to place undue reliance on the forward-looking statements. Forward-looking statements are only correct on the date they are made. Abacus does not plan to update these statements except as required by law.
Contact: Robert Phillips – SVP Investor Relations [email protected] (321) 290-1198
David Jackson – IR/Capital Markets Associated [email protected] (321) 299-0716
Abacus Life Public Relations [email protected]
