05:45 PM EST, 11/21/2024 (MT Newswires) -- Abacus Life ( ABL ) said late Thursday it launched a public offering of 12.5 million common shares.

The company is offering 10 million of the shares, with the rest to be sold by certain stockholders.

Abacus Life ( ABL ) expects to grant a 30-day overallotment option to the underwriters to acquire up to 1.5 million additional shares, while the selling stockholders expect to offer up to 375,000 additional shares.

The company said it plans to use the net proceeds for its operations, including the purchase of life settlement policies, among other things.

Abacus Life ( ABL ) shares were down nearly 5% in after-hours activity.