Abacus Life Inc (NASDAQ:ABL), an alternative asset manager specializing in longevity and actuarial technology, announced warrant exchange agreements with certain holders of its publicly traded warrants.
The holders agreed to surrender over 4.9 million Public Warrants in exchange for nearly 1.1 million newly issued shares of common stock at a 0.23-to-1 ratio.
The Public Warrants, issued during Abacus’s IPO, entitle holders to buy shares at $11.50 each and trade under “ABLLW” on Nasdaq as separate financial instruments.