Abacus Life Repurchases Total of $6 Million of Stock in First 60 Days of Program
ORLANDO, Fla., Feb. 13, 2024 (GLOBE NEWSWIRE) -- Abacus Life, Inc. (NASDAQ: ABL) (“Abacus” or the “Company”), a leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, provided an update to its $15 million stock repurchase program previously announced on December 12, 2023 (the “Repurchase Program”).
- ORLANDO, Fla., Feb. 13, 2024 (GLOBE NEWSWIRE) -- Abacus Life, Inc. (NASDAQ: ABL) (“Abacus” or the “Company”), a leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, provided an update to its $15 million stock repurchase program previously announced on December 12, 2023 (the “Repurchase Program”).
- From the commencement of the Repurchase Program through February 12, 2024, Abacus has repurchased 553,150] shares of its common stock at an average price of $10.92 on the open market at a total cost of approximately $6.0 million.
- As of February 12, 2024, Abacus has $9.0 million of availability under the Repurchase Program, which expires on June 10, 2025, unless sooner suspended or discontinued.
- The Company is not obligated to purchase any shares under the repurchase program, and the program may be suspended, modified, or discontinued at any time without prior notice.