ORLANDO, Fla., Nov. 21. 2024 (GLOBE NEWSWIRE) — Abacus Life, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a pioneering alternative asset manager specializing in leveraging long-term investment offers uncorrelated investment opportunities, today announced the commencement of an underwritten public offering of 12,500,000 shares of its common stock, including 10 000,000 shares of common stock to be sold by the Company and 2,500,000 to be sold by certain stockholders of the Company (“Selling stockholders”).The Company and the selling stockholders also expect to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock from the company and up to an additional 375,000 shares of common stock from the selling stockholders.

Abacus intends to use the net proceeds from the primary portion of the offering for its business, including the purchase of life insurance, to support its overall business strategy, for working capital purposes and for general corporate purposes, which may include previously announced financings and future acquisitions and the repayment and refinancing of its indebtedness. Abacus will not receive any proceeds from the secondary portion of the offering.

The offer is subject to general market conditions and no guarantees can be given as to whether or when the offer may be implemented, or as to the size or terms of the offer.

Piper Sandler & Co., TD Securities (USA) LLC, KKR Capital Markets LLC, B. Riley Securities, Inc. and SG Americas Securities, LLC are acting as joint bookrunners and representatives of the underwriters for the proposed offering.

The registration statements on Form S-3 (including the accompanying prospectuses for each registration statement) relating to the proposed offering have been filed with the Securities and Exchange Commission (“SEC”) and became effective on November 14, 2024. Copies of prospectus supplements relating to the offering, when filed, may be obtained on the SEC’s website at When available, copies of the prospectus supplements related to the offering may also be obtained from: Piper Sandler & Co. by mail at 1251 Avenue of the Americas, 6th Floor, New York, NY 10020 or by email at [email protected]; TD Securities (USA) by mail at 1 Vanderbilt Avenue, New York, NY 10017, by telephone at (855) 495-9846 or by email at [email protected]; KKR Capital Markets LLC by mail at 30 Hudson Yards, 75th Floor, New York, NY 10001, Attention: Prospectus Delivery; B. Riley Securities, Inc. by mail at 1300 17th Street North, Suite 1300, Arlington, VA 22209, by telephone at (703) 312-9580 by email at [email protected]; or SG Americas Securities, LLC by mail at 245 Park Avenue, New York, NY 10167 or by email at [email protected]. The final terms of the offering will be disclosed in the final prospectus supplements to be filed with the SEC.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the shares of the Company’s common stock or other securities, nor shall there be any sale of such common stock or other securities in any state or other jurisdiction where such offer , solicitation or sale would be illegal prior to registration or qualification under the securities laws of such state or other jurisdiction. Any offer, solicitation or offer to buy or sell securities will be made in accordance with the registration requirements of the US Securities Act of 1933, as amended.

IfAbacus

Abacus is a pioneering global alternative asset manager and market maker specializing in uncorrelated financial products. The company leverages its longevity data and actuarial technology to buy life insurance from consumers seeking liquidity. This creates a high yielding asset class that is uncorrelated to market fluctuations for institutional investors.

With nearly $3 billion in assets under management, including ongoing acquisitions, Abacus is the only publicly traded global alternative asset manager focused on longevity financial products.

Forward-looking statements

All statements in this press release (and oral statements regarding the subjects of this press release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on a number of assumptions about future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are beyond Abacus’ control. Forward-looking information includes, but is not limited to, statements about the proposed offering, including the anticipated closing of the proposed offering; Abacus’s financial and operational prospects; Abacus’ operational and financial strategies, including planned growth initiatives and their benefits, Abacus’s ability to successfully implement those strategies and the expected results thereof. These forward-looking statements are generally identified by the words “believes,” “project,” “estimate,” “expect,” “intend,” “anticipate,” “target,” “prospects,” “will,” “would,” “will continue,” “will likely result,” and similar expressions (including negative versions of such words or expressions).

Although Abacus believes that its assumptions about future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could affect future results or the results of its operations. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: the fact that Abacus’ loss reserves are based on estimates and may be insufficient to cover its actual losses; the failure to properly price Abacus’s policies; the geographic concentration of Abacus’ operations; the cyclical nature of Abacus’ industry; the impact of the regulation on Abacus’ business; the effects of competition on Abacus’s business; the failure of Abacus’s relationships with independent agencies; the failure to meet Abacus’ investment objectives; the inability to raise capital on favorable terms or at all; the effects of acts of terrorism; and the effectiveness of Abacus’s control environment, including the identification of control deficiencies.

These forward-looking statements are also affected by risk factors, forward-looking statements and challenges and uncertainties set forth in documents that Abacus files with the SEC from time to time, including the Annual Report on Form 10-K, as amended, and Quarterly Reports on Form 10-Q and subsequent periodic reports reports. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Abacus cautions you not to place undue reliance on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on forward-looking statements, and Abacus undertakes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Abacus makes no guarantee that they will achieve their expectations.

Contacts:

Robert Phillips – SVP Investor Relations

[email protected]

(321) 290-1198

David Jackson – IR/Capital Markets Associate

[email protected]

(321) 299-0716

Abacus Life Public Relations

[email protected]