Abacus Life (ABL) Prices $25M Notes Offering

Abacus Life, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL; ABLLL) today announced that it has priced an underwritten public offering of $25 million in aggregate principal amount of its additional 9.875% notes due 2028 (the “New Notes”). The New Notes will have the same terms (except with respect to issue date and the date from which interest will accrue) as, will be fully fungible with and will be treated as a single series of debt securities as, the 9.875% notes due 2028 the Company issued on November 10, 2023 in an aggregate principal amount of $35,650,000 (the “Existing Notes” and together with the New Notes, the “Notes”). When issued, the New Notes will bring the aggregate amount of Notes outstanding to $60,650,000. The Company has granted the underwriters an option to purchase up to an additional $3,750,000 in aggregate principal amount of New Notes solely to cover overallotments, if any. The offering is expected to close on February 15, 2024, subject to customary closing conditions. Piper Sandler & Co., A.G.P. / Alliance Global Partners, and Ladenburg Thalmann & Co. Inc. are serving as joint book-running managers for the offering.

The Company expects to use the net proceeds from this offering to refinance other outstanding indebtedness and for general corporate purposes.

The Existing Notes are listed and trade on the Nasdaq Global Market® under the symbol “ABLLL” and the Company intends to apply to list the New Notes on the Nasdaq Global Market® under the same symbol.

Investors are advised to consider carefully the investment objective, risks and charges and expenses of the Company before investing.

Locke Lord LLP acts as legal counsel to the Company, and Alston & Bird LLP acts as legal counsel to the underwriters.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of, the New Notes referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction. A registration statement relating to these securities was filed and has been declared effective by the Securities and Exchange Commission (the “SEC”).

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained for free by visiting the SEC's website at www.sec.gov or from the underwriters by contacting: Piper Sandler & Co. by mail at 1251 Avenue of the Americas, 6th Floor, New York, NY 10020, or by email at [email protected]. The preliminary prospectus contains a description of these matters and other important information about the Company and should be read carefully before investing.

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