Abacus Global Management, Inc. is an asset management and investment platform that operates through wholly owned subsidiaries (including Carlisle and FCF Advisors) focused on life settlement investing, free cash flow–oriented strategies, and related asset management services.

# Abacus Global Management, Inc.

## What the company does
- Asset management and investment platform operating through multiple subsidiaries and acquisitions.
- Operates in the life settlement market through Carlisle Management Company S.C.A. (CMC) and Carlisle Investment Group S.A.R.L. (CIG), Luxembourg-based investment managers.
- Provides asset management services and index provisioning through FCF Advisors, LLC (FCF Advisors), a New York–based firm focused on free cash flow–oriented investment strategies.
- Consolidates these businesses under a single corporate umbrella and manages them as wholly owned subsidiaries.

## Corporate history and key events
- Formed as East Resources Acquisition Company (ERES), a Delaware blank-check company, on May 22, 2020.
- Completed a business combination on June 30, 2023 involving Abacus Merger Sub, LLC (a subsidiary of ERES), Longevity Market Assets, LLC (LMA), and Abacus Settlements, LLC (together, the “Companies”). LMA Merger Sub merged into LMA (LMA survived) and Abacus Merger Sub merged into Abacus (Abacus survived). The Companies became direct wholly owned subsidiaries of ERES.
- In connection with the business combination, ERES changed its name to Abacus Life, Inc.
- Completed acquisitions on December 2, 2024 of Carlisle Management Company S.C.A. and Carlisle Investment Group S.A.R.L. (collectively “Carlisle”) and FCF Advisors, LLC (“FCF”).
- The Carlisle and FCF acquisitions expanded the company’s asset management and investment strategy capabilities.
- Changed its name to Abacus Global Management, Inc. on February 27, 2025.

## Corporate structure and ownership
- After the June 30, 2023 business combination, the Companies became direct wholly owned subsidiaries of ERES.
- ERES was renamed Abacus Life, Inc., and later renamed Abacus Global Management, Inc. (effective Feb 27, 2025).
- The December 2, 2024 acquisitions added Luxembourg-based investment management assets (Carlisle) and New York–based asset management and indexing capabilities (FCF) to the corporate group.

Abacus Global Management, Inc. is a leading financial services firm specializing in alternative asset management, particularly in the life settlement sector.

# Abacus Global Management, Inc. Overview

## Business Description
Abacus Global Management, Inc. is a leading financial services company specializing in alternative asset management, life settlements, and longevity-focused financial solutions. Established through a merger involving East Resources Acquisition Company (ERES) and Longevity Market Assets, LLC (LMA), the company operates primarily in the life settlement market, acquiring and managing life insurance policies through its various subsidiaries.

### Key Operating Segments
1. **Asset Management**:
   - **Description**: Manages alternative investment funds and exchange-traded funds (ETFs).
   - **Revenue**: Generated primarily from asset management fees based on the net asset value (NAV) of funds.
   - 2024 Revenue: $2,841,481.

2. **Active Management**:
   - **Description**: Engages in buying and selling life settlement policies. Provides fee-based services and earns realized and unrealized gains from policies.
   - **Revenue**: Increased by 68% in 2024 to $102,819,361 from legal and strategic investments.
 
3. **Originations**:
   - **Description**: Acts as a licensed life settlement provider, originating life insurance policies on behalf of institutional investors.
   - **Revenue**: Increased by 29.8% in 2024 to $5,457,147.
   - **Customers**: Approximately 30,000 financial advisors and agents in their network.
 
4. **Portfolio Servicing**:
   - **Description**: Offers policy servicing and administrative work for life settlement assets.
   - **Revenue**: Totaled $772,169 in 2024; experienced a decrease of 23% from the previous year.
   
5. **Technology Services**:
   - **Description**: Utilizes proprietary technology to provide real-time mortality verification and data analytics related to life insurance.
   - **Revenue**: Generated $33,628 in its first year of service in 2024.

### Financial Metrics
- **Total Revenue (2024)**: $111,923,786, reflecting a significant increase from the prior year's revenue of $66,401,451.
- **Gross Profit (2024)**: $100,552,053, up from $59,911,074 in 2023.
- **Net Loss (2024)**: $-24,918,037, compared to a net income of $9,034,487 in 2023, impacted by increased operating expenses, including stock-based compensation and various acquisitions.
  
### Employee Count
- **Total Employees**: 157 as of December 31, 2024.
- Majority of employees have extensive experience, with an average of over 20 years in the life settlement and financial services industry.

### Market Position
- **Market Share**: Abacus is a leader in the life settlements industry, holding approximately 26% market share based on the capital invested in the sector.

### Key Growth Opportunities
- The life settlements industry is projected to capture a greater share of the $233 billion potential market of lapsed life insurance policies. Currently, the industry has only captured about 2%.
- Expansion into technology solutions is expected to enhance financial services and operational efficiency.
- The firm plans to increase awareness and educate clients about life settlements, aiming to grow market penetration significantly.

### Strategic Vision
The mission of Abacus Global Management is to revolutionize financial services through expert asset management, leveraging advanced technology and data-driven lifespan insights to optimize financial well-being across various stages of life.

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This summary outlines Abacus Global Management, Inc.'s operational scope, services, market engagement, and financial performance. The information highlights the company's ambition to lead the life settlement market and innovate within the financial services sector.

abl-20231231



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
(Amendment No. 2)
(Mark One)

x | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2023
OR

o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____  to _____
Commission file number 001-39403
Abacus Life, Inc.
(Exact name of registrant as specified in its charter)

Delaware | 85-1210472 
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.)
2101 Park Center Drive, Suite 200Orlando Florida | 32835 
(Address of Principal Executive Offices) | (Zip Code) 

(800) 561-4148
Registrant's telephone number, including area code
Securities registered pursuant to Section 12(b) of the Act: 

Title of each class | Trading Symbol(s) | Name of each exchange on which registered
Common stock, par value $0.0001 per share | ABL | The NASDAQ Stock Market LLC 
Warrants, each whole warrant exercisable for one share of common stock at an exercise price of $11.50 per share | ABLLW | The NASDAQ Stock Market LLC 
9.875% Fixed Rate Senior Notes due 2028 | ABLLL | The NASDAQ Stock Market LLC 

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
Yes ☐ No x
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No x
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  o
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be
submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such
shorter period that the registrant was required to submit such files). Yes  x   No  o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated 
filer”, “smaller reporting company”, and "emerging growth company" in Rule 12b-2 of the Exchange Act.:

Large accelerated filer | o | Accelerated filer | o
Non-accelerated filer | x | Smaller reporting company | x
 | | Emerging growth company | x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. x
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes   o     No  x
APPLICABLE ONLY TO REGISTRANTS INVOLVED IN BANKRUPTCY 
PROCEEDINGS DURING THE PRECEDING FIVE YEARS:
Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. o  Yes o No
APPLICABLE ONLY TO CORPORATE ISSUERS: 
The aggregate market value of shares of common stock held by non-affiliates at June 30, 2023, was $11,651,731.
The registrant had 63,984,567 shares of common stock, $0.0001 par value per share, outstanding as of June 7, 2024.


EXPLANATORY NOTE
Abacus Life, In. (the “Company”) is filing this Amendment No. 2 on Form 10-K/A (the “Amended 10-K No. 2”) to amend the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, originally filed with the Securities and Exchange Commission (the “SEC”) on March 21, 2024 (the “Original 10-K”), as amended by that Amendment No. 1 to the Annual Report on Form 10-K/A for the fiscal year ended December 31, 2023 (the “Amended 10-K”), filed with the SEC on May 20, 2024, to update Item 15. to add the Consent of the Independent Registered Public Accounting Firm for their report on the financial statements of Abacus Settlements, LLC, a predecessor of the Company, that was inadvertently omitted from the Amended 10-K and to update the date of the Consent of the Independent Registered Public Accounting Firm for their report on the financial statements of Abacus Life, Inc. originally included in the Amended 10-K. We also updated the number of shares of common stock outstanding as of the latest practicable date on the Cover of the Amended 10-K No. 2.
The Company has attached to this Amended 10-K No. 2 updated certifications executed as of the date of this Amended 10-K No. 2 by the Principal Executive Officer and Principal Financial Officer as required by Sections 302 and 906 of the Sarbanes Oxley Act of 2002. These updated certifications are attached as Exhibits 31.1, 31.2, 32.1, and 32.2 to this Amended 10-K No. 2.
Except as described above, no other amendments are being made to the Amended 10-K. This Amended 10-K No. 2 does not reflect events occurring after the filing of the Original 10-K or modify or update the disclosure contained therein in any way other than as required to reflect the amendments discussed above.


Item 15. Exhibit and Financial Statement Schedules

The following exhibits are filed as part of, or incorporated by reference into, this Annual Report on Form 10-K.
ExhibitNumber | | Description 
21.1 | | Subsidiaries of the Company, incorporated by reference from the Company’s Form 8-K filed July 6, 2023. 
23.1 | | Consent of Grant Thornton LLP 
23.2 | | Consent of Grant Thornton LLP - Predecessor 
31.1 | | Certification of Principal Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.*
31.2 | | Certification of Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.*
32.1 | | Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.** 
32.2 | | Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.** 
104* | | Cover Page Interactive Data File (embedded within the Inline XBRL document) 
 | * Filed herewith 
 | ** Furnished herewith

Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

ABACUS LIFE, INC. | 
By: | /s/ Jay Jackson 
 | Jay Jackson 
 | Chairman of the Board, 
 | President and Chief Executive Officer
 | (Principal Executive Officer) 

Date: June 12, 2024

By: | /s/ William McCauley 
 | William McCauley 
 | Chief Financial Officer 
 | (Principal Accounting and Financial Officer)

Date: June 12, 2024




Abacus Life, Inc. is a financial services company that specializes in providing life settlement solutions, allowing policyholders to sell their unwanted life insurance policies for immediate cash.

# Abacus Life, Inc.

## Business Description
Abacus Life, Inc. is a financial services firm focused on life settlement solutions. The company purchases, services, and invests in life insurance policies, allowing policyholders to sell unwanted policies for immediate cash rather than surrendering them to the insurer. This provides an option for individuals who no longer need a policy or can no longer afford the premiums.

## Key Details
- Industry: Financial Services / Life Settlements  
- Headquarters: 2101 Park Center Drive, Suite 200, Orlando, Florida 32835  
- Incorporation: Delaware

## Market Position
- Common stock trades under the ticker ABL on The NASDAQ Stock Market LLC; warrants trade under ABLLW.  
- Issued 9.875% Fixed Rate Senior Notes due 2028, traded under the symbol ABLLL.

## Summary
Abacus Life operates in the life settlement market, providing financial options to policyholders while managing a portfolio of life insurance policies. As a smaller reporting company, it focuses on serving clients seeking alternatives for their life insurance and on supporting investor interest in life settlement transactions.

Abacus Global Management, Inc.

10-K / March 13, 2026

10-K / March 28, 2025

10-K / June 12, 2024

10-K / March 13, 2026

Abacus Global Management, Inc.

What the company does

Corporate history and key events

Corporate structure and ownership