Upstream Life files for $500 million capital raise

Upstream Life has filed a Form D with the SEC, aiming to raise up to $500 million through an exempt debt securities offering.

The minimum investment is set at $25,000, and the offering is expected to remain open for more than a year. No sales have been reported yet.

Upstream Life is licensed in 25 states and offers a multiyear guaranteed fixed annuity product.

Separately, Upstream Life has notified customers about a data breach at Landmark Admin , with notification letters sent on January 31, 2025.

To mitigate potential identity theft risks, Landmark Admin is providing free identity protection services through IDX, a ZeroFox company specializing in data breach response. The package includes:

• 12 months of credit and CyberScan monitoring
• A $1 million insurance reimbursement policy
• Fully managed identity theft recovery

Affected individuals must enroll by May 1, 2025.