Abacus Life - ABL STOCK NEWS

Abacus Life (NASDAQ: ABL) has entered into warrant exchange agreements with certain holders of its outstanding publicly traded warrants. The agreement involves the exchange of 4,930,745 Public Warrants for 1,134,071 shares of newly issued Common Stock, at a ratio of 0.23 shares per warrant.

The Public Warrants were originally issued during the company's IPO, allowing holders to purchase up to 17,250,000 shares of Common Stock at an exercise price of $11.50 per share. These warrants trade on Nasdaq under the symbol 'ABLLW' and are legally detachable and separately exercisable from the underlying common shares.

Abacus Life (NASDAQ: ABL) has completed the rebranding of FCF Advisors to Abacus FCF Advisors, a subsidiary of ABL Wealth. The company announced several key initiatives including:

- Launch of the Abacus FCF Small Cap Leaders ETF (ABLS)
- Management fee reductions of 5-10 basis points across all ETFs
- 18-month fee waiver of 20 basis points on four ETFs

The rebranding emphasizes the company's leadership in free cash flow investing and analytics through the FCF Leaders Model, which identifies the most profitable companies through a quantitative investment process. The company's ETF lineup now includes ABFL, ABLG, ABLD, ABOT, ABLS, and ABHY funds. To mark this milestone, the Abacus FCF Advisors team rang the Cboe Global Markets Exchange opening bell on February 19, 2025.

Coventry has released a new study by Professors Daniel Bauer and Nan Zhu revealing significant flaws in Lapetus Solutions' life expectancy estimates. The study analyzed 4,378 underwritten reports and found that Lapetus substantially understates actual life expectancies of insureds, which could significantly impact life settlement investors.

The research showed that while Lapetus's calculations predicted 648 policyholder deaths during the study period, only 203 actual deaths occurred, resulting in a concerning 31% ratio of actual to expected deaths. This aligns with a July 2024 analysis showing Lapetus life expectancies were shorter by approximately 31 months compared to other underwriters.

The findings suggest that policies valued using Lapetus's estimates could be overvalued, potentially affecting companies like Abacus (NASDAQ: ABL) that rely on their life expectancy predictions for policy valuations.

Abacus Life (NASDAQ: ABL) has secured a $150 million debt financing facility, arranged and led by Sagard, with significant commitment from Värde Partners. The facility features flexible terms designed to support the company's long-term strategic objectives.

CEO Jay Jackson emphasized that this funding will meet inventory demand without requiring additional equity raises in the near future. Chief Capital Officer Elena Plesco highlighted this as a significant milestone providing financial flexibility for executing their strategic vision. The company plans to use the funds to strengthen operations and expand capabilities.

Abacus Life (NASDAQ: ABL) has completed the acquisition of FCF Advisors, a New York-based asset manager with approximately $850 million in assets under management. FCF specializes in free cash flow-focused investment strategies and is known for its free cash flow quality model and quantitative investment process. The acquisition marks a significant expansion of ABL Wealth's offerings, enhancing their ability to provide comprehensive lifespan-based financial services. FCF Advisors brings a suite of core and thematic free cash flow equity strategies, along with over 50 customizable free cash flow index strategies across 8 global equities allocation categories.

Abacus Life (NASDAQ: ABL) has completed the acquisition of Carlisle Management Company, a Luxembourg-based investment fund manager specializing in life settlements with over $2 billion in assets under management. The acquisition aligns with Abacus's strategy to drive long-term growth and diversify its alternative asset-management offerings. Jose Garcia, Carlisle's CEO, joins Abacus Life's Executive Leadership Team. The acquisition adds approximately $2.0 billion to Abacus's ABL Wealth division, providing Carlisle's investors access to Abacus Life's uncorrelated insurance product asset class.

ABL Technologies, a subsidiary of Abacus Life (NASDAQ: ABL), announced a preferred equity investment in Insured Connect, an insurance data and technology platform. The investment aims to support Insured Connect's growing demand while strengthening Abacus's position in longevity-related technology and insurance product distribution. The partnership focuses on bridging gaps between life insurance distribution, carriers, and policyholders through improved communication and information access.

Abacus Life (NASDAQ: ABL) has received regulatory non-objection from Luxembourg's CSSF for the acquisition of Carlisle Management Company, targeting closure by December 2, 2024. The acquisition will add approximately $2.0 billion in assets under management to ABL Wealth division. Carlisle, established in 2008, is a Luxembourg-based investment fund manager specializing in life settlements and is licensed as an Alternative Investment Fund Manager under CSSF supervision. This acquisition aligns with Abacus's strategy to expand its global alternative asset management footprint.

Abacus Life (NASDAQ: ABL) has completed its oversubscribed public offering of 12.5 million shares of common stock at $8.00 per share. The offering consisted of 10 million shares sold by the company and 2.5 million shares sold by existing stockholders, generating total gross proceeds of approximately $100 million. The company received about $80 million from the primary offering, which it plans to use for operations, purchasing life settlement policies, supporting business strategy, working capital, potential acquisitions, and debt refinancing. The remaining $20 million from selling stockholders' shares did not go to the company.