Abacus Life, Inc. - ABL STOCK NEWS

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.

Abacus Life (NASDAQ: ABL) has announced the pricing of its public offering of 12.5 million shares of common stock at $8.00 per share. The offering includes 10 million shares from the company and 2.5 million from selling stockholders. The expected gross proceeds are approximately $100 million. Underwriters have a 30-day option to purchase up to 1.875 million additional shares. The company plans to use the proceeds for operations, life settlement policies purchase, business strategy support, working capital, and general corporate purposes, including potential acquisitions and debt refinancing. The offering is expected to close on November 25, 2024.

Abacus Life (NASDAQ: ABL) has announced a public offering of 12.5 million shares of common stock, comprising 10 million shares from the company and 2.5 million from selling stockholders. The underwriters have a 30-day option to purchase up to 1.5 million additional shares from the company and 375,000 from stockholders. The proceeds will fund operations, life settlement policy purchases, business strategy, working capital, potential acquisitions, and debt refinancing. The offering's completion depends on market conditions, with no guaranteed terms or timing.

Abacus Life (NASDAQ: ABL) reported Q3 2024 results with total revenue growing 33% year-over-year to $28.1 million. Despite posting a GAAP net loss of $5.1 million due to a non-cash warrant liability increase, the company achieved significant growth metrics with Adjusted Net Income up 65% to $14.9 million and Adjusted EBITDA rising 54% to $16.7 million. Policy originations increased 54% to 278, with capital deployment of $93.2 million. The company is advancing its ABL Tech platform with over 20 clients and progressing on acquisitions of Carlisle Management and FCF Advisors, expected to add $2.6 billion in assets under management.

Abacus Life (NASDAQ: ABL) has released preliminary Q3 2024 results, anticipating Total Revenue between $26.0 and $28.0 million, representing a 23-33% year-over-year growth. The company expects a GAAP Net Loss between $6.0 and $6.75 million, primarily due to a non-cash increase in warrant liability of $8.0 to $9.0 million. Adjusted EBITDA is projected between $14.0 and $16.0 million, showing a 30-48% year-over-year growth.

CEO Jay Jackson highlighted key acquisitions of Carlisle Management Company SCA and FCF Advisors, as well as the addition of new executives. The company also partnered with Lorisco to launch PREADISAN™, a health prediction and actuarial technology tool. Abacus will release full Q3 2024 financial results on November 7, 2024, followed by a conference call.