Abacus Life, a Leading Buyer of Life Insurance Policies and Vertically Integrated Alternative Asset Manager, to Become Public Company
- Abacus Life and East Resources Acquisition Company (NASDAQ:ERES) enter business combination agreement
- Sector leader within an uncorrelated alternative asset class with a $233 billion TAM, institutional investment grade counterparts and outsized growth potential, underpinned by steady financial performance
- Proprietary technology platform yields differentiated underwriting capabilities
- Transaction implies pro-forma enterprise value of $618 million; proceeds to be used to reduce cost of capital, scale hold portfolio and begin securitizing policy portfolios
- Anticipated transaction close as early as the fourth quarter of 2022
- Combined company's shares of common stock expected to
