03:06 AM EDT, 06/21/2024 (MT Newswires) -- Abacus Life ( ABL ) said late Thursday it priced an underwritten public offering of 10 million shares of common stock at $8 per share for total expected gross proceeds of $80 million.

The underwriters have been granted a 30-day option to purchase up to 1.5 million additional shares.

Net proceeds will be used to fund the company's operations, business strategy, working capital and for general corporate purposes, the company said.