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Abacus Life plans add-on to 9.875% $25-par notes due 2028
By Wendy Van Sickle
Columbus, Ohio, Jan. 31 – Abacus Life, Inc. is planning an add-on to its 9.875% $25-par notes due Nov. 15, 2028, according to a filing with the Securities and Exchange Commission.
There will be an over-allotment option.
Piper Sandler & Co. is the bookrunner.
The company sold $35.65 million of the notes, including the greenshoe, back in November.
As previously reported, the notes will be callable at par quarterly starting in 2027.
If there is a change of control, the notes will be putable at par.
Proceeds will be used to refinance debt and for general corporate purposes.
The notes are listed on the Nasdaq Global Market under the symbol “ABLLL.”
Based in Orlando, Fla., Abacus is an alternative asset manager that invests in life insurance products throughout the lifecycle of an insurance policy.
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