Abacus Global Management Announces Successful Warrant Exchange Offer
Abacus Global Management (NASDAQ: ABL) has successfully completed its warrant exchange offer and consent solicitation. The company received tenders for 18,188,277 warrants, representing approximately 88% of outstanding warrants, before the offer's expiration on July 29, 2025.
The consent solicitation garnered approval from 83% of public warrant holders and 94% of private placement warrant holders to amend the warrant agreement, surpassing the required 50% threshold. Following this success, Abacus will exchange remaining warrants at a ratio of 0.207 shares of common stock per warrant, which is 10% less than the original exchange offer ratio.
Abacus Global Management (NASDAQ: ABL) ha completato con successo l'offerta di scambio dei warrant e la richiesta di consenso. La società ha ricevuto offerte per 18.188.277 warrant, pari a circa il 88% dei warrant in circolazione, prima della scadenza dell'offerta il 29 luglio 2025.
La richiesta di consenso ha ottenuto l'approvazione da parte del 83% dei detentori pubblici di warrant e del 94% dei detentori di warrant di collocamento privato per modificare l'accordo sui warrant, superando la soglia minima richiesta del 50%. A seguito di questo successo, Abacus scambierà i warrant rimanenti con un rapporto di 0,207 azioni ordinarie per warrant, che rappresenta il 10% in meno rispetto al rapporto previsto nell'offerta di scambio originale.
Abacus Global Management (NASDAQ: ABL) ha completado con éxito su oferta de intercambio de warrants y solicitud de consentimiento. La compañía recibió ofertas por 18,188,277 warrants, lo que representa aproximadamente el 88% de los warrants en circulación, antes de la expiración de la oferta el 29 de julio de 2025.
La solicitud de consentimiento obtuvo la aprobación del 83% de los tenedores públicos de warrants y del 94% de los tenedores de warrants de colocación privada para modificar el acuerdo de warrants, superando el umbral requerido del 50%. Tras este éxito, Abacus intercambiará los warrants restantes a una proporción de 0,207 acciones ordinarias por warrant, un 10% menos que la proporción original de la oferta de intercambio.
Abacus Global Management (NASDAQ: ABL)이 워런트 교환 제안 및 동의 요청을 성공적으로 완료했습니다. 회사는 2025년 7월 29일 제안 마감 전까지 전체 워런트의 약 88%에 해당하는 18,188,277 워런트를 접수했습니다.
동의 요청은 공공 워런트 보유자의 83%와 사모 배정 워런트 보유자의 94%의 승인을 얻어 워런트 계약 수정에 필요한 50% 기준을 초과했습니다. 이 성공에 따라 Abacus는 남은 워런트를 원래 교환 비율보다 10% 낮은, 워런트당 0.207주의 보통주로 교환할 예정입니다.
Abacus Global Management (NASDAQ : ABL) a mené à bien son offre d’échange de bons de souscription et sa sollicitation de consentement. La société a reçu des offres pour 18 188 277 bons, représentant environ 88 % des bons en circulation, avant l’expiration de l’offre le 29 juillet 2025.
La sollicitation de consentement a obtenu l’approbation de 83 % des détenteurs publics de bons et de 94 % des détenteurs privés pour modifier l’accord relatif aux bons, dépassant ainsi le seuil requis de 50 %. Suite à ce succès, Abacus échangera les bons restants au ratio de 0,207 actions ordinaires par bon, soit 10 % de moins que le ratio initial proposé.
Abacus Global Management (NASDAQ: ABL) hat sein Angebot zum Umtausch von Optionsscheinen und die Einholung von Zustimmungen erfolgreich abgeschlossen. Das Unternehmen erhielt Angebote für 18.188.277 Optionsscheine, was etwa 88% der ausstehenden Optionsscheine entspricht, vor Ablauf des Angebots am 29. Juli 2025.
Die Zustimmungserklärung erhielt die Zustimmung von 83% der öffentlichen Optionsscheininhaber und 94% der Inhaber von Privatplatzierungs-Optionsscheinen zur Änderung der Optionsscheinvereinbarung, womit die erforderliche Schwelle von 50% überschritten wurde. Nach diesem Erfolg wird Abacus die verbleibenden Optionsscheine zu einem Umtauschverhältnis von 0,207 Stammaktien pro Optionsschein tauschen, was 10% weniger als das ursprüngliche Umtauschverhältnis ist.
- None.
- Remaining warrant holders will receive 10% less favorable exchange terms
- Potential dilution from new shares issued in exchange for warrants
Insights
Abacus successfully completed warrant restructuring with 88% participation, simplifying capital structure and reducing potential dilution.
Abacus Global Management has successfully completed its warrant exchange offer with 88% of outstanding warrants (
The transaction's mechanics are noteworthy. Tendered warrants will be exchanged for common stock at the previously announced ratio, while any remaining outstanding warrants will be automatically exchanged at a
This warrant cleanup is strategically significant as it simplifies Abacus's capital structure by eliminating these derivative securities from their balance sheet. The transaction removes a potential overhang of future dilution that would have occurred if warrants were eventually exercised. Additionally, by converting warrants to common shares now, the company eliminates future warrant-related volatility and accounting complexity.
For existing equity holders, while this transaction does create some immediate dilution, it's less dilutive than if all warrants had been exercised for their full share entitlement. The streamlined capital structure may also make Abacus more attractive to institutional investors who prefer companies with straightforward capitalization tables.
ORLANDO, Fla., July 30, 2025 (GLOBE NEWSWIRE) -- Abacus Global Management, Inc. (NASDAQ: ABL) (“Abacus” or the “Company”), a leader in the alternative asset management space, today announced the expiration and results of its previously announced exchange offer (the “Offer”) and consent solicitation (the “Consent Solicitation”) relating to its (i) outstanding public warrants (the “public warrants”) and (ii) outstanding private placement warrants (the “private placement warrants” and, together with the public warrants, the “warrants”) to purchase shares of common stock, par value
The Company has been advised that 18,188,277 warrants (including 500 warrants tendered through guaranteed delivery), or approximately
The Company engaged SG Americas Securities, LLC as the dealer manager for the Offer and Consent Solicitation, D.F. King & Co., Inc. as the information agent for the Offer and Consent Solicitation, and Continental Stock Transfer & Trust Company served as the exchange agent for the Offer and Consent Solicitation.
No Offer or Solicitation
This announcement is for informational purposes only and shall not constitute an offer to purchase or a solicitation of an offer to sell the warrants or an offer to sell or a solicitation of an offer to buy any shares of common stock in any state in which such offer, solicitation, or sale would be unlawful before registration or qualification under the laws of any such state. The Offer and Consent Solicitation were made only through, and pursuant to the terms and conditions set forth in, the Company’s Schedule TO, prospectus/offer to exchange, and related letter of transmittal, and the complete terms and conditions of the Offer and Consent Solicitation are set forth in the Schedule TO, prospectus/offer to exchange, and related letter of transmittal.
A registration statement on Form S-4 filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”) registering the common stock issuable in the Offer and the Post-Offer Exchange was declared effective by the SEC on July 28, 2025.
About Abacus
Abacus Global Management (NASDAQ: ABL) is a leading financial services company specializing in alternative asset management, data-driven wealth solutions, technology innovations, and institutional services. With a focus on longevity-based assets and personalized financial planning, Abacus leverages proprietary data analytics and decades of industry expertise to deliver innovative solutions that optimize financial outcomes for individuals and institutions worldwide.
Cautionary Statement Regarding Forward-Looking Statements
All statements in this press release (and oral statements made regarding the subjects of this press release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of Abacus. Forward-looking information includes but is not limited to statements regarding: Abacus’s financial and operational outlook; Abacus’s operational and financial strategies, including planned growth initiatives and the benefits thereof, Abacus’s ability to successfully effect those strategies, and the expected results therefrom. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “expect,” “intend,” “anticipate,” “goals,” “prospects,” “will,” “would,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).
While Abacus believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: the fact that Abacus’s loss reserves are bases on estimates and may be inadequate to cover its actual losses; the failure to properly price Abacus’s insurance policies; the geographic concentration of Abacus’s business; the cyclical nature of Abacus’s 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.
These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties set forth in documents filed by Abacus with the U.S. Securities and Exchange Commission from time to time, including the Registration Statement on Form S-4/A, filed July 15, 2025, the Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and subsequent periodic reports. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Abacus cautions you not to place undue reliance on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Abacus assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Abacus does not give any assurance that it will achieve its expectations.
Contacts:
Investor Relations
Robert F. Phillips – SVP Investor Relations and Corporate Affairs
rob@abacusgm.com
(321) 290-1198
David Jackson – Director of IR/Capital Markets
david@abacusgm.com
(321) 299-0716
Abacus Global Management Public Relations
press@abacusgm.com
FAQ
What was the participation rate in Abacus Global Management's (ABL) warrant exchange offer?
What exchange ratio will ABL offer for remaining warrants after the initial offer?
When did ABL's warrant exchange offer expire?
What percentage of warrant holders approved the warrant agreement amendment for ABL?
When will ABL settle the exchanged warrants?
