Latest news with #AbacusGlobalManagement
Yahoo
5 days ago
- Business
- Yahoo
Dynasty Takes Minority Stake in Life Settlement Firm Abacus
You can find original article here Wealthmanagement. Subscribe to our free daily Wealthmanagement newsletter. Dynasty Financial Partners has entered into an equity swap agreement with Abacus Global Management, a publicly traded alternative asset originator and manager that specializes in life insurance products. As part of the equity swap, Abacus, which became a Dynasty partner firm in 2023 with the launch of its wealth management division, ABL Wealth, has acquired a minority stake in Dynasty and vice versa. 'Our investment in Abacus illustrates our confidence in their business model, the strength of their balance sheet, and the commitment of [Abacus CEO Jay Jackson] and the team to continue building out their wealth business,' said Dynasty founder and CEO Shirl Penney, in a statement. Dynasty launched its equity swap program about six or seven years ago and has entered into agreements with a significant number of its large clients as a way to align interests between them. The firm does not take any controlling interest in the firms it acquires. The deal with Abacus was structured in the same way as others. Abacus launched its wealth division in 2023 with Dynasty support and a plan to seed that offering by acquiring and rolling up RIAs under the ABL Wealth brand. It will provide those advisors with leads from both the inquiries the company receives and cash payouts from its life settlements business. Last year, Abacus signed an agreement to acquire Carlisle Management Company SCA, a Luxembourg-based alternative asset manager with about $2 billion in assets under management, for $200 million. Dynasty Investment Bank advised Abacus on the deal. That was followed by Abacus's acquisition of FCF Advisors, a New York-based asset manager with about $600 million in assets under management. Both firms have become part of ABL Wealth and will provide investment strategies to advisors who eventually join the platform. Abacus has not made any RIA acquisitions thus far, but Jackson has been vocal about his intention to do so and the firm's commitment to the wealth business. Abacus receives some 10,000 inquiries a month from individuals who may not qualify to sell their policy but have other financial services needs. These leads are, on average, over age 55 and have $1 million of net worth, and serve as a differentiator to the company as it looks to attract RIAs. Abacus went public in July 2023 via a Special Purpose Acquisition Company, merging with East Resources Acquisition Company. It now trades on the NASDAQ under the symbols 'ABL' and 'ABLLW.' The company purchases life insurance policies from consumers for cash. In 2022, Dynasty sold minority stakes in the company to Charles Schwab and private equity firm Abry Partners. In 2024, it announced a minority capital raise from BlackRock, JP Morgan Asset Management and Schwab. Dynasty now serves 57 partner firms across over $105 billion in platform assets. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Abacus Global Management and Dynasty Financial Partners Announce Minority Investment
ORLANDO, Fla., Aug. 12, 2025 (GLOBE NEWSWIRE) -- Abacus Global Management, Inc. ('Abacus' or the 'Company') (NASDAQ: ABL), a leader in the alternative asset management space, today announced a minority investment in Dynasty Financial Partners ('Dynasty'), a leading provider of technology-enabled wealth management solutions for independent financial advisors. 'Over the years, we have developed a deep relationship with the team at Dynasty, so we are thrilled to be able to offer them support, as well, through this investment,' said Jay Jackson, Chairman and Chief Executive Officer of Abacus. 'Their backing and expertise empower us to continue building on our suite of services and expanding our national footprint.' Abacus is a member of the network of owners and operators of independent firms leveraging Dynasty's integrated technology, services, robust turnkey asset management program (TAMP), digital lead generation services, capital solutions, and investment bank. Currently, Dynasty has 57 Network Partner firms and over $105 billion in platform assets. Shirl Penney, Founder and Chief Executive Officer of Dynasty, said: 'This alignment and mutual investment is yet another illustration of how the independent wealth management space has truly exploded with growth and opportunity. Jay and the team at Abacus are well-positioned to keep moving forward with their growth plans and we are proud to partner with them to support each other's strategic goals.' About AbacusAbacus Global Management (NASDAQ: ABL) is a leading financial services company specializing in alternative asset management, data-driven wealth solutions, technology innovations, and institutional services. With a focus on longevity-based assets and personalized financial planning, Abacus leverages proprietary data analytics and decades of industry expertise to deliver innovative solutions that optimize financial outcomes for individuals and institutions worldwide. For more information, please visit Contacts:Investor RelationsRobert F. Phillips – SVP Investor Relations and Corporate Affairs rob@ 290-1198 David Jackson – Managing Director of Investor Relations david@ 299-0716Abacus Global Management Public Relationspress@ About DynastyDynasty is a provider of technology-enabled wealth management solutions and business services for financial advisory firms primarily focused on serving high net worth and ultra-high net worth clients. Dynasty provides access to a comprehensive platform of software and technology tools, business services, and holistic investment management capabilities through an open-architecture platform delivered via a suite of proprietary and third-party technologies. Dynasty's technology, tools, and services provide advisory firms the supported independence to launch their business, scale their operations, and grow their firms — both organically and inorganically — while also allowing them to be more focused on and better equipped to serve their clients. For nearly a decade and a half, Dynasty has championed the benefits of independent wealth management for high net worth and ultra-high net worth clients and has contributed to the movement of assets from traditional brokerage channels to the independent channels of wealth management. A recognized industry leader, Dynasty has differentiated itself by developing competitive strengths, including a deep understanding of and strong relationship with its clients; a comprehensive offering of services and technology-enabled solutions; the ability to leverage its size and breadth to invest; the flexibility and seamlessness enabled by a modular technology solution; an entrepreneurial culture; and an experienced and committed management team. Dynasty is committed to continually growing its business by facilitating existing advisory firm clients' growth, onboarding new clients, increasing clients' use of its broader capabilities, launching additional solutions, and facilitating complementary acquisitions. For more information, please visit To learn more about Dynasty Connect please visit Also visit Dynasty on social media:LinkedIn: @DynastyFP
Yahoo
07-08-2025
- Business
- Yahoo
Abacus Global Management Delivers Strong Q2 Earnings, Upgrades FY Outlook
By Karen Roman Abacus Global Management, Inc. (Nasdaq: ABL) said second quarter total sales increased 93% to $56.2 million compared to $29.1 million the prior year, thanks to higher revenues from Life Solutions and asset-management fees from previous acquisitions. Adjusted net income rose 87% to $21.9 million compared to $11.7 million the year prior, while adjusted diluted earnings per share was $0.22 compared to $0.17, it said. Adjusted EBITDA increased 89% to $31.5 million compared to $16.7 million, with an adjusted EBITDA margin of 56.1% compared to 57.5%, the company stated. Abacus raised its full year outlook and now expects adjusted net income between $74 million and $80 million compared to its prior goal of $70 million to $78 million, it said. 'Our strong performance was driven by robust demand for policyholder liquidity, as well as increased inflows for our new asset management offerings,' said Jay Jackson, Abacus CEO. 'Our differentiated origination-focused business model, serving both liquidity-seeking consumers and yield-seeking investors, enables us to capture true market value in any macro environment.' READ MORE Potbelly Q2 Revenue & EPS Growth Pushes Stock Up 3% Never Miss our Weekly Highlights Contact: Exec Edge Editor@ Click to follow us on LinkedIn Sign in to access your portfolio
Yahoo
30-07-2025
- Business
- Yahoo
Abacus Global Management Announces Successful Completion of Exchange Offer and Consent Solicitation
ORLANDO, Fla., July 30, 2025 (GLOBE NEWSWIRE) -- Abacus Global Management, Inc. ('Abacus' or the 'Company') (NASDAQ: ABL), a leader in the alternative asset management space, today announced the completion 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 Company's common stock and public warrants are listed on the Nasdaq Capital Market (the 'Nasdaq') under the symbols 'ABL' and 'ABLLW,' respectively. The Company issued 4,183,160 shares of common stock in exchange for the warrants tendered in the Offer. On July 30, 2025, the Company and Continental Stock Transfer & Trust Company entered into the related amendment to the warrant agreement governing the warrants (the 'Warrant Amendment'). Pursuant to the Warrant Amendment, the Company has exercised its right 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 has fixed the date for the Post-Offer Exchange as August 14, 2025. As a result of the completion of the Offer and the Post-Offer Exchange, no warrants will remain outstanding. Accordingly, the public warrants are expected to be suspended from trading on the Nasdaq as of the close of business on August 14, 2025, and will be delisted. The shares of common stock will continue to be listed and trade on the Nasdaq under the symbol 'ABL.' Following completion of the Offer, there are approximately 102,050,981 shares of common stock outstanding (an increase of approximately 4% from prior to the closing of the Offer), and following completion of the Post-Offer Exchange there will be approximately 102,555,154 shares of common stock outstanding (an increase of approximately 5% from prior to the closing of the Offer and 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. About Abacus Abacus Global Management (NASDAQ: ABL) is a leading financial services company specializing in alternative asset management, data-driven wealth solutions, technology innovations, and institutional services. With a focus on longevity-based assets and personalized financial planning, Abacus leverages proprietary data analytics and decades of industry expertise to deliver innovative solutions that optimize financial outcomes for individuals and institutions worldwide. Contacts: Investor RelationsRobert F. Phillips – SVP Investor Relations and Corporate Affairs rob@ 290-1198 David Jackson – Managing Director of Investor Relations david@ 299-0716 Abacus Global Management Public Relationspress@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-06-2025
- Business
- Yahoo
Abacus Global Management Announces Intention to Conduct Exchange Offer and Consent Solicitation Relating to Warrants
ORLANDO, Fla., June 27, 2025 (GLOBE NEWSWIRE) -- Abacus Global Management, Inc. (the 'Company') (NASDAQ: ABL), today announced that it intends to conduct an exchange offer (the 'Offer') and consent solicitation (the 'Consent Solicitation') relating to its outstanding (i) public warrants to purchase shares of common stock of the Company, par value $0.0001 per share ('common stock'), which warrants trade on The Nasdaq Capital Market under the symbol 'ABLLW' ('public warrants'), and (ii) private placement warrants to purchase shares of common stock (such private placement warrants, together with the public warrants, the 'warrants'). Each outstanding warrant is exercisable for one common share at a price of $11.50 per share, subject to adjustments pursuant to the warrant agreement that governs the warrants (the 'Warrant Agreement'). The Company intends to offer to all holders of the warrants the opportunity to receive 0.23 shares of common stock in exchange for each outstanding warrant tendered by the holder and exchanged pursuant to the Offer. Concurrently with the Offer, the Company also expects to solicit consents from holders of the warrants to amend the Warrant Agreement to permit the Company to require that each warrant that is outstanding upon the closing of the Offer be exchanged for 0.207 shares of common stock, which is a ratio 10% less than the exchange ratio that will be applicable to the Offer (such amendment, the 'Warrant Amendment'). Pursuant to the terms of the Warrant Agreement, all except certain specified modifications or amendments require the vote or written consent of holders of at least 50% of the outstanding public warrants. The Company expects to commence the Offer following the filing of a Form S-4 registration statement setting forth the terms of the Offer. Important Notice This announcement is being made pursuant to and in accordance with Rule 135 under the Securities Act of 1933. As required by Rule 135, this press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Contacts: Investor RelationsRobert F. Phillips – SVP Investor Relations and Corporate Affairsrob@ 290-1198 David Jackson – Director of IR/Capital Marketsdavid@ 299-0716 Abacus Global Management Public Relationspress@
