Abacus Life, Inc. Announces Pricing of Public Offering
Exciting News for Abacus Life, Inc.
ORLANDO, Fla., Nov. 21, 2024 (GLOBE NEWSWIRE) — Abacus Life, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a pioneering alternative asset manager specializing in longevity and actuarial technology, today announced the pricing of its underwritten public offering of 12,500,000 shares of its common stock. This includes 10,000,000 shares of common stock being offered by the Company and 2,500,000 shares of common stock being offered by certain stockholders of the Company (the “Selling Stockholders”), at a price to the public of $8.00 per share.
In connection with the offering, the Company also granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock from the Company and up to an additional 375,000 shares of common stock from the Selling Stockholders at the public offering price. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $100 million, excluding any exercise of the underwriters’ option to purchase additional shares.
Expanding Opportunities for Growth
Abacus Life, Inc.’s successful public offering signals a strong belief in the company’s potential for growth and innovation in the longevity and actuarial technology space. With the infusion of funds raised from the offering, Abacus is well-positioned to further develop its cutting-edge solutions and expand its market reach.
Investors have shown confidence in Abacus Life, Inc.’s business model and strategic vision, paving the way for exciting new opportunities on the horizon. As the company continues to push the boundaries of what is possible in the alternative asset management sector, shareholders can look forward to potential returns and continued success.
Impact on Me
As an individual investor, the pricing of Abacus Life, Inc.’s public offering may present new investment opportunities. The company’s focus on longevity and actuarial technology highlights its commitment to innovation and growth, potentially leading to strong returns for investors who believe in its vision. By staying informed and engaging with the market, I can assess how this development may impact my investment portfolio and make informed decisions moving forward.
Impact on the World
Abacus Life, Inc.’s successful public offering has broader implications for the world of alternative asset management. By demonstrating strong investor interest and raising significant funds, the company is poised to drive innovation and advancement in the longevity and actuarial technology sector. This could lead to the development of new solutions that benefit individuals, businesses, and society at large, shaping the future of asset management and financial technology.
Conclusion
Abacus Life, Inc.’s pricing of its public offering represents a significant milestone for the company and the alternative asset management industry as a whole. With a strong show of investor confidence and a solid foundation for growth, Abacus is well-positioned to make a lasting impact in the longevity and actuarial technology space. As stakeholders continue to monitor the company’s progress, the effects of this offering are sure to be felt both on an individual level and on a global scale.
