East Resources Acquisition terminates Forward Purchase Agreement with East Asset Management

Abacus Global Management, Inc.

Termination effective December 2, 2022; no payments or deliveries due from either party.
Agreement dated July 2, 2020 was for forward purchase of equity in connection with business combination.
Parties release each other from all liabilities arising from the Forward Purchase Agreement.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Abacus Global Management, Inc. terminated Forward Purchase Agreement with East Asset Management, LLC (effective 2022-12-02).

Action: termination
Agreement: equity purchase
Counterparty: East Asset Management, LLC
Effective: 2022-12-02

Exact text from the filing

On December 2, 2022, ERES and East Asset Management, LLC, a Delaware limited liability company (the “Purchaser”), entered into an agreement (the “Termination Agreement”) to terminate that certain Forward Purchase Agreement, dated as of July 2, 2020, by and between ERES and the Purchaser (the “Forward Purchase Agreement,” and the transactions contemplated therein, the “FPA Transactions”), effective as of December 2, 2022.

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Source: SEC EDGAR

accession 0001564590-22-038965

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