secwatch.observer — SEC 8-K summary
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Issuer:     Abacus Global Management, Inc. (ABX)
CIK:        0001814287
Form:       8-K
Filed at:   2024-12-10T23:59:59+00:00
Accession:  0001628280-24-050657
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Abacus Life closes $150M senior secured term loan with Sagard and Värde
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- Initial $100M drawn at close; additional $50M delayed draw available subject to conditions.
- Facility priced at SOFR + 5.25% (stepdown to SOFR + 5.00% upon meeting EBITDA/leverage targets).
- Proceeds to fund life settlement purchases, working capital, and general corporate purposes.
- CEO states facility eliminates need for near-term incremental equity raise.
- Matures 6 years from initial funding with quarterly amortization of 1% p.a. plus EBITDA-based payments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1814287/000162828024050657/0001628280-24-050657-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1814287/000162828024050657/abl-20241210.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-050657

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