Abacus Life Closes $150 Million Debt Financing Facility to Support Continued Growth
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) ha ottenuto un finanziamento da 150 milioni di dollari, organizzato e guidato da Sagard, con un impegno significativo da parte di Värde Partners. Il finanziamento presenta condizioni flessibili progettate per supportare gli obiettivi strategici a lungo termine dell'azienda.
Il CEO Jay Jackson ha sottolineato che questo finanziamento soddisferà la domanda di inventario senza richiedere ulteriori aumenti di capitale nel prossimo futuro. Il Chief Capital Officer Elena Plesco ha evidenziato questo come un traguardo significativo che offre flessibilità finanziaria per realizzare la loro visione strategica. L'azienda intende utilizzare i fondi per rafforzare le operazioni e ampliare le capacità.
Abacus Life (NASDAQ: ABL) ha conseguido un financiamiento de deuda de 150 millones de dólares, organizado y liderado por Sagard, con un compromiso significativo de Värde Partners. La instalación presenta términos flexibles diseñados para apoyar los objetivos estratégicos a largo plazo de la empresa.
El CEO Jay Jackson enfatizó que esta financiación satisfará la demanda de inventario sin necesidad de realizar aumentos de capital adicionales en el futuro cercano. La Chief Capital Officer Elena Plesco destacó esto como un hito significativo que proporciona flexibilidad financiera para llevar a cabo su visión estratégica. La empresa planea utilizar los fondos para fortalecer las operaciones y ampliar las capacidades.
아바쿠스 라이프 (NASDAQ: ABL)는 1억 5천만 달러 규모의 부채 금융 시설을 확보했으며, 이는 사가드가 주도하고 잘다 파트너스에서 상당한 투자가 이루어졌습니다. 이 시설은 회사의 장기 전략 목표를 지원하기 위해 설계된 유연한 조건을 갖추고 있습니다.
CEO 제이 잭슨은 이 자금이 추가 자본 조달 없이 재고 수요를 충족할 것이라고 강조했습니다. 최고 자본 책임자인 엘레나 플레스코는 이것이 전략적 비전을 실행하는 데 있어 재정적 유연성을 제공하는 중요한 이정표라고 강조했습니다. 회사는 자금을 사용하여 운영을 강화하고 역량을 확대할 계획입니다.
Abacus Life (NASDAQ: ABL) a sécurisé une facilité de financement par dette de 150 millions de dollars, organisée et dirigée par Sagard, avec un engagement significatif de Värde Partners. La facilité propose des conditions flexibles conçues pour soutenir les objectifs stratégiques à long terme de l'entreprise.
Le PDG Jay Jackson a souligné que ce financement répondra à la demande de stocks sans nécessiter de levées de fonds supplémentaires dans un avenir proche. La Chief Capital Officer Elena Plesco a souligné cela comme une étape importante fournissant une flexibilité financière pour réaliser leur vision stratégique. L'entreprise prévoit d'utiliser les fonds pour renforcer ses opérations et élargir ses capacités.
Abacus Life (NASDAQ: ABL) hat eine Finanzierungsfazilität in Höhe von 150 Millionen Dollar gesichert, die von Sagard arrangiert und geleitet wurde, mit erheblichem Engagement von Värde Partners. Die Fazilität bietet flexible Bedingungen, die darauf abzielen, die langfristigen strategischen Ziele des Unternehmens zu unterstützen.
CEO Jay Jackson betonte, dass diese Finanzierung die Nachfrage nach Inventar decken wird, ohne dass in naher Zukunft zusätzliches Eigenkapital erforderlich ist. Die Chief Capital Officer Elena Plesco hob dies als einen bedeutenden Meilenstein hervor, der finanzielle Flexibilität für die Umsetzung ihrer strategischen Vision bietet. Das Unternehmen plant, die Mittel zu verwenden, um die Betriebe zu stärken und die Fähigkeiten zu erweitern.
- Secured $150 million debt financing facility
- No need for equity dilution in foreseeable future
- Strong institutional backing from Sagard and Värde Partners
- Flexible terms supporting long-term growth
- Increased debt obligations on balance sheet
Insights
ORLANDO, Fla., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Abacus Life, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a pioneering global alternative asset manager specializing in leveraging longevity data and actuarial technology to offer uncorrelated investment opportunities, announced today that it has successfully closed a
“We are excited to close this debt financing facility, which represents a major step forward for Abacus Life,” said Jay Jackson, CEO of Abacus Life. “This funding provides us with sufficient capital to meet our inventory demand and ensures that we will not need to raise incremental equity in the foreseeable future. It empowers us to continue growing our business and strengthen our position as an industry leader. We are confident that this facility will play a critical role in our continued success as we expand our capabilities and deliver value to our stakeholders.”
Elena Plesco, Chief Capital Officer of Abacus Life, added, “This facility represents a significant milestone for our Company, providing us with the financial flexibility to continue executing our strategic vision. The strong support from our new institutional partners at Sagard and Värde reflects confidence in our business model and growth trajectory. We are committed to using these funds to further strengthen our operations and unlock new opportunities for both our clients and investors.”
Adam Vigna, Co-founder and CIO of Sagard, commented on the transaction: "This underscores our commitment to providing innovative credit solutions. We are excited to collaborate with Abacus Life. This facility will provide them with the resources to strengthen operations, expand offerings, and solidify their position as a market leader."
“It has been a pleasure to work with Jay and the team over the past several years, and we are pleased to partner with Sagard on this bespoke financing solution to support Abacus Life’s continued growth as a leader in life settlements,” said Monty Cook, Head of Asset-Based Finance, North America Lending at Värde Partners.
Advisors
Milbank LLP is acting as legal advisor to Abacus Life and Morrison & Foerster LLP is acting as legal advisor to Sagard and Värde Partners.
About Abacus
Abacus is a pioneering global alternative asset manager and market maker specializing in uncorrelated financial products. The company leverages its proprietary, cutting-edge longevity data and actuarial technology to purchase life insurance policies from consumers seeking liquidity. This creates a high-return asset class uncorrelated to market fluctuations for institutional investors.
With nearly
Abacus is expanding its leading expertise in longevity and lifespan into new growth areas:
- ABL Wealth - Leverages decades of data and proprietary algorithms to offer longevity-based wealth management platforms that enable financial advisors to create customized plans and provide access to uncorrelated investments.
- ABL Tech - A groundbreaking technology service that delivers advanced real-time data tracking and analysis for pension funds, governments, insurance companies, retirement associations, and more.
Through each new channel, Abacus is revolutionizing the future of asset management and financial planning, centered on longevity and lifespan.
About Sagard
Sagard is a global multi-strategy alternative asset management firm with US
For more information, visit www.sagard.com or follow us on LinkedIn @Sagard
About Värde Partners
Värde Partners is a leading global investment firm specializing in credit and credit-related assets. Founded in 1993, the firm has invested more than
Contacts:
Investor Relations
Robert F. Phillips – SVP Investor Relations and Corporate Affairs
rob@abacuslife.com
(321) 290-1198
David Jackson – IR/Capital Markets Associate
djackson@abacuslife.com
(321) 299-0716
Abacus Life Public Relations
press@abacuslife.com
FAQ
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