Brief: Abacus Life To Become Public Company

Abacus Global Management

30/08/2022 11:58

Aug 30 (Reuters) - East Resources Acquisition Co  ERES.O :
    * ABACUS LIFE, A LEADING BUYER OF LIFE INSURANCE POLICIES
AND
VERTICALLY INTEGRATED ALTERNATIVE ASSET MANAGER, TO BECOME
PUBLIC COMPANY
    * EAST RESOURCES ACQUISITION CO - TRANSACTION IMPLIES
PRO-FORMA
ENTERPRISE VALUE OF $618 MILLION
    * EAST RESOURCES ACQUISITION CO - COMBINED COMPANY'S SHARES
OF
COMMON STOCK EXPECTED TO LIST UNDER TICKER SYMBOL "ABAL"
    * EAST RESOURCES ACQUISITION CO - UPON CLOSING OF
TRANSACTION,
COMBINED COMPANY WILL BE NAMED ABACUS LIFE, INC.
    * EAST RESOURCES ACQUISITION CO - ABACUS OWNERS WILL ROLL
100% OF
THEIR EXISTING EQUITY HOLDINGS INTO COMBINED COMPANY
    * EAST RESOURCES ACQUISITION CO - ABACUS OWNERS ARE EXPECTED
TO
OWN APPROXIMATELY 70% OF COMBINED COMPANY
    * EAST RESOURCES ACQUISITION CO - POST DEAL CLOSING,
EXISTING
MANAGEMENT TEAM OF ABACUS, LED BY CEO JAY JACKSON, TO CONTINUE
TO OPERATE, MANAGE ABACUS

Source text for Eikon:  ID:nBwqRdlHa 
Further company coverage:  ERES.O 

 ((Reuters.Briefs@thomsonreuters.com;))