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Abacus Global Management, Inc. (NASDAQ:ABL) ("Abacus" or the "Company"), a leader in the alternative asset management space, today announced the expiration and results of its previously announced exchange offer (the "Offer") and consent solicitation (the "Consent Solicitation") relating to its (i) outstanding public warrants (the "public warrants") and (ii) outstanding private placement warrants (the "private placement warrants" and, together with the public warrants, the "warrants") to purchase shares of common stock, par value $0.0001 per share, of the Company ("common stock"). The Offer and Consent Solicitation expired at 11:59 p.m., Eastern Time, on July 29, 2025.
The Company has been advised that 18,188,277 warrants (including 500 warrants tendered through guaranteed delivery), or approximately 88% of the outstanding warrants, were validly tendered and not validly withdrawn prior to the expiration of the Offer and Consent Solicitation. The Company expects to accept all validly tendered warrants for exchange and settlement on or before July 30, 2025. In addition, pursuant to the Consent Solicitation, the Company received the approval of parties representing approximately 83% of the outstanding public warrants and approximately 94% of the outstanding private placement warrants to amend the warrant agreement that governs the warrants (such amendment, the "Warrant Amendment"), which exceeds the threshold of 50% of the outstanding public warrants required to effect the Warrant Amendment. Accordingly, the Company and Continental Stock Transfer & Trust Company entered into the Warrant Amendment, dated July 30, 2025, and the Company expects to exercise its right, in accordance with the terms of the Warrant Amendment, to exchange each warrant that is outstanding upon the closing of the Offer for 0.207 shares of common stock per warrant, which is a ratio 10% less than the exchange ratio applicable to the Offer (the "Post-Offer Exchange").
The Company engaged SG Americas Securities, LLC as the dealer manager for the Offer and Consent Solicitation, D.F. King & Co., Inc. as the information agent for the Offer and Consent Solicitation, and Continental Stock Transfer & Trust Company served as the exchange agent for the Offer and Consent Solicitation.
Posted In: ABL
