Abacus Life issues $25M of 9.875% Senior Notes due 2028, total now $60.65M

Abacus Global Management, Inc.

Issued $25M of 9.875% Fixed Rate Senior Notes due 2028, fully fungible with existing $35.65M notes.
Total outstanding Notes increase to $60.65M; underwriters have option for additional $3.75M.
Net proceeds will refinance other outstanding indebtedness and for general corporate purposes.
Issuance expected to close on February 15, 2024, subject to customary closing conditions.

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. entered into Underwriting Agreement with Piper Sandler & Co. and each of the underwriters named in Exhibit A valued at $25 million aggregate principal amount (effective 2024-02-09).

Action: entry
Agreement: underwriting
Counterparty: Piper Sandler & Co. and each of the underwriters named in Exhibit A
Value: $25 million aggregate principal amount
Effective: 2024-02-09

Exact text from the filing

On February 9, 2024, Abacus Life, Inc., a Delaware corporation (the “Company”), entered into an Underwriting Agreement (the “Underwriting Agreement”) with Piper Sandler & Co. and each of the underwriters named in Exhibit A thereto (the “Underwriters”), pursuant to which the Underwriters agreed to purchase from the Company $25 million aggregate principal amount of the Company’s 9.875% Fixed Rate Senior Notes due 2028 (the "New Notes").

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Abacus Global Management, Inc. filing history →

Source: SEC EDGAR

accession 0001814287-24-000009

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