Abacus Life is a buyer of life insurance policies and ERES shareholders voted to approve the business combination at a meeting on June 29 2023.
In connection with the completion of the business combination, ERES has been renamed Abacus Life, Inc. and its common stock and warrants are expected to commence trading on the Nasdaq Capital Market on July 5 2023 under the ticker symbols “ABL” and “ABLLW”, respectively.
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“We believe we are well-positioned to accelerate and execute on our growth strategy as a result of this business combination,” said Jay Jackson, chief executive of Abacus. “The capital raised in connection with this transaction, along with our new access to the public markets, will allow us to continue to scale and expand our market leading portfolio of life settlement services and specialty insurance products.”
“We are pleased to complete our business combination with Abacus, a leader in the life settlements space and a company that we expect to remain at the forefront of the expansion and adoption of this alternative asset class,” said Terrence M. Pegula, chairman, CEO and president of ERES. “The highly experienced management team at Abacus has positioned the Company to not only be a market leader, but to be highly scalable with the potential for consistent financial performance, giving us confidence that they will deliver long-term value to stockholders. We look forward to continuing to support them moving forward.”
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