Abacus Life closes $100 million public offering

Abacus Life has completed an oversubscribed public offering of 12.5 million common shares at $8 per share, raising $100 million in gross proceeds.

The company sold 10 million shares, generating $80 million, while selling stockholders sold 2.5 million shares, contributing $20 million.

The proceeds will be used by Abacus to purchase life settlement policies, support its business strategy, fund acquisitions, and refinance debt. The company did not receive any proceeds from shares sold by stockholders.