Life settlements company Abacus Life plans to raise $80 million in public offering

Abacus Life announced the pricing of its public offering of 10,000,000 shares of common stock at $8 per share.

The company has also given underwriters a 30-day option to purchase an additional 1,500,000 shares at the same price. The gross proceeds from the offering are expected to be around $80 million, not including any extra shares sold through the underwriters’ option. All shares are being sold by Abacus.

The proceeds will be used for operations, purchasing life settlement policies, supporting the business strategy, working capital, and general corporate purposes, which may include debt repayment and refinancing.