05:18 PM EDT, 06/24/2024 (MT Newswires) -- Abacus Life ( ABL ) said late Monday that it closed an "oversubscribed" offering of 11.5 million shares, with gross proceeds of about $92 million.

The sale included the exercise in full of an option for underwriters to purchase an additional 1.5 million shares at a public offering price of $8 apiece.

Abacus intends to use net proceeds for operations, working capital, and general corporate purposes.