secwatch.observer — SEC 8-K summary
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Issuer:     Abacus Global Management, Inc. (ABX)
CIK:        0001814287
Form:       8-K
Filed at:   2025-03-24T23:59:59+00:00
Accession:  0001814287-25-000004
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Abacus issues $5M Series A Convertible Preferred to acquire interest in Dynasty Financial
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- Issued 5,000 shares of Series A Convertible Preferred to Dynasty Financial Holdings in exchange for 400,000 Class A Interests of Dynasty.
- Preferred has $1,000/share liquidation preference ($5M aggregate), 7.5% dividend rate payable in kind at company's option.
- Shares convertible into common at initial rate of 100 shares per $1,000 liquidation preference (effective ~$10 conversion price).
- Company may redeem shares after March 18, 2028; holders can require repurchase upon change of control.
- Series A ranks senior to common for dividends and liquidation; no common dividends unless equivalent paid on preferred.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1814287/000181428725000004/0001814287-25-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1814287/000181428725000004/abl-20250318.htm
  HTML page:      https://secwatch.observer/filing/0001814287-25-000004

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