Abacus Global Management Stock Price, News & Analysis

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.

Abacus Life (NASDAQ: ABL), a leader in longevity and actuarial technology asset management, has appointed Robert F. Phillips as Senior Vice President, Investor Relations and Corporate Affairs. With over 30 years of experience in capital markets and investor relations, Phillips will lead Abacus Life's investor relations strategy and play a key role in advancing strategic business initiatives. Reporting directly to CEO Jay Jackson, Phillips will focus on strengthening engagement with investment and capital markets communities.

Phillips' extensive background includes roles as Senior Managing Director at Nasdaq, heading Investor Relations and Business Development for an SEC-registered investment advisor, and experience in institutional trading & brokerage. He holds a B.A. from Hamilton College and an M.B.A. in Finance from NYU Stern School of Business.

Abacus Life, Inc. (NASDAQ: ABL), a leading global alternative asset manager specializing in lifespan-based financial products, has announced a significant milestone for its Abacus Policy Value Calculator. The calculator, which recently launched its newest generation, has surpassed 150,000 individual submissions from insureds, representing more than $87 billion in face value.

CEO Jay Jackson emphasized the company's commitment to providing instant access to their valuation database through the calculator. This tool offers insureds a transparent and up-to-date estimate of their policy's value. The high volume of submissions has allowed Abacus to further refine its models and actuarial databases, enhancing the accuracy of its valuations.

Abacus Life (NASDAQ: ABL), a leading global alternative asset manager specializing in lifespan-based financial products, has announced the appointment of Corey McLaren as Managing Director, Capital Markets. Based in Boston, McLaren brings nearly two decades of financial services experience, including over 15 years in life settlements.

McLaren's previous roles include Director of Alternative Strategies at Spearhead Capital, where he managed their life settlement investment fund, and Director at FDO Partners, where he helped launch and source policies for three life settlement funds. Abacus CEO Jay Jackson expressed excitement about McLaren's expertise and its potential to drive the company's strategic vision forward.