Abacus Life (ABL) has released an update.
Abacus Life, Inc. has partnered with Piper Sandler & Co. and other underwriters to issue $25 million in 9.875% Fixed Rate Senior Notes, expanding their total outstanding debt to $60,650,000. The proceeds from this sale will fund corporate refinancing and general needs. These notes are an addition to a previous issuance and will trade under the same Nasdaq symbol, with the company also offering the underwriters an option for an additional $3.75 million in notes. The sale, registered with the SEC and detailed in a final prospectus, is set to close on February 15, 2024, with customary assurances and indemnities in place.
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