Abacus Life Prices Public Offering Of $25M Additional 9.875% Notes Due 2028

Author: Benzinga Newsdesk | February 12, 2024 08:36am

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.

Posted In: ABL