Abacus Life Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Consolidated Statements of Stockholders’ Equity
ABACUS LIFE, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
| Class A Common Stock · Treasury Stock · AdditionalPaid-InCapital · Accumulated Deficit · Accumulated Other Comprehensive Income · Non-ControllingInterests · TotalStockholders’Equity | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount · Shares · Amount | |||||||||||||||||
| BALANCE AS OF DECEMBER 31, 2023 (1) | 63,388,823 | $6,339 | (146,650) | $(1,283,062) | $199,826,278 | $(34,726,135) | $108,373 | $138,283 | $164,070,076 | ||||||||
| Deferred transaction costs | — | — | — | — | (483,451) | — | — | — | (483,451) | ||||||||
| Repurchase of common stock | — | — | (632,116) | (7,524,392) | — | — | — | — | (7,524,392) | ||||||||
| Stock-based compensation | — | — | — | — | 6,093,371 | — | — | — | 6,093,371 | ||||||||
| Warrant Conversions | 387,235 | 39 | — | — | 4,453,164 | — | — | — | 4,453,203 | ||||||||
| Other comprehensive income (loss) | — | — | — | — | — | — | 11,950 | (4,514) | 7,436 | ||||||||
| Net (loss) income | — | — | — | — | — | (1,348,745) | — | 73,274 | (1,275,471) | ||||||||
| BALANCE AS OF MARCH 31, 2024 | 63,776,058 | $6,378 | (778,766) | $(8,807,454) | $209,889,362 | $(36,074,880) | $120,323 | $207,043 | $165,340,772 | ||||||||
| Deferred transaction costs | — | — | — | — | — | 790,579 | — | — | 790,579 | ||||||||
| Common stock sale | 11,500,000 | 1,150 | — | — | 91,998,850 | — | — | — | 92,000,000 | ||||||||
| Common stock sale transaction costs | — | — | — | — | (7,213,627) | — | — | — | (7,213,627) | ||||||||
| Repurchase of common stock | — | — | (269,460) | (3,217,683) | — | — | — | (3,217,683) | |||||||||
| Stock-based compensation | — | — | — | — | 6,165,459 | — | — | — | 6,165,459 | ||||||||
| Warrant Conversions | 208,509 | 20 | — | — | 2,397,834 | — | — | — | 2,397,854 | ||||||||
| Other comprehensive loss | — | — | — | — | — | — | (55,999) | (9,616) | (65,615) | ||||||||
| Net income (loss) | — | — | — | — | — | 769,983 | — | (118,234) | 651,749 | ||||||||
| BALANCE AS OF JUNE 30, 2024 | 75,484,567 | $7,548 | (1,048,226) | $(12,025,137) | $303,237,878 | $(34,514,318) | $64,324 | $79,193 | $256,849,488 | ||||||||
| Stock-based compensation | 271,772 | — | — | — | 6,416,378 | — | — | — | 6,416,378 | ||||||||
| Warrant Conversions | 100 | 28 | — | — | 1,122 | — | — | — | 1,150 | ||||||||
| Other comprehensive loss | — | — | — | — | — | — | (42,682) | (10,974) | (53,656) | ||||||||
| Reclassification of change in fair value of debt (risk adjusted) upon related debt payoff | — | — | — | — | — | — | 11,079 | — | 11,079 | ||||||||
| Net loss | — | — | — | — | — | (5,125,055) | — | (159,756) | (5,284,811) | ||||||||
| BALANCE AS OF SEPTEMBER 30, 2024 | 75,756,439 | $7,576 | (1,048,226) | $(12,025,137) | $309,655,378 | $(39,639,373) | $32,721 | $(91,537) | $257,939,628 | ||||||||
ABACUS LIFE, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (CONT.)
(1) The 2023 number of shares outstanding and their par value have been retrospectively recast for all prior periods presented to reflect the par value of the outstanding stock of Abacus Life, Inc. as a result of the successful Business Combination.
| Class A Common Stock · Treasury Stock · AdditionalPaid-InCapital · Retained Earnings / Accumulated Deficit · AccumulatedOther ComprehensiveIncome · Non-ControllingInterests · TotalStockholders’Equity | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount · Shares · Amount | ||||||||||||||
| BALANCE AS OF DECEMBER 31, 2022 (1) | 50,369,350 | $5,037 | — | $— | $704,963 | $25,487,323 | $1,052,836 | $899,538 | $28,149,697 | |||||
| Other comprehensive loss | — | — | — | — | — | — | (85,382) | (26,931) | (112,313) | |||||
| Net income (loss) | — | — | — | — | — | 8,085,503 | — | (460,707) | 7,624,796 | |||||
| BALANCE AS OF MARCH 31, 2023 (1) | 50,369,350 | $5,037 | — | $— | $704,963 | $33,572,826 | $967,454 | $411,900 | $35,662,180 | |||||
| Distributions | — | — | — | — | — | (34,451,607) | — | — | (34,451,607) | |||||
| Deferred transaction costs | — | — | — | — | — | (10,841,551) | — | — | (10,841,551) | |||||
| Public warrants | — | — | — | — | 4,726,500 | (3,765,600) | — | — | 960,900 | |||||
| Merger with East Resources Acquisition Company | 12,592,338 | 1,259 | — | — | 17,849,091 | (20,646,575) | — | — | (2,796,225) | |||||
| Acquisition of Abacus Settlements, LLC | — | — | — | — | 165,361,332 | — | — | — | 165,361,332 | |||||
| Other comprehensive loss | — | — | — | — | — | — | (90,148) | (29,515) | (119,663) | |||||
| Net income (loss) | — | — | — | — | — | 6,750,145 | — | (26,596) | 6,723,549 | |||||
| BALANCE AS OF JUNE 30, 2023 (1) | 62,961,688 | $6,296 | — | $— | $188,641,886 | $(29,382,362) | $877,306 | $355,789 | $160,498,915 | |||||
| Merger with East Resources Acquisition Company | 388,135 | 39 | — | — | (39) | — | — | — | — | |||||
| Proceeds received from SPAC trust | — | — | — | — | 972,262 | — | — | — | 972,262 | |||||
| Stock-based compensation | — | — | — | — | 4,583,632 | — | — | — | 4,583,632 | |||||
| Transfer of noncontrolling interests | — | — | — | — | — | (24,751) | — | 24,751 | — | |||||
| Other comprehensive loss | — | — | — | — | — | — | (777,131) | (238,903) | (1,016,034) | |||||
| Net income | — | — | — | — | — | 903,361 | — | 147,611 | 1,050,972 | |||||
| BALANCE AS OF SEPTEMBER 30, 2023 (1) | 63,349,823 | $6,335 | — | $— | $194,197,741 | $(28,503,752) | $100,175 | $289,248 | $166,089,747 | |||||
(1) The 2023 and 2022 number of shares outstanding and their par value have been retrospectively recast for all prior periods presented to reflect the par value of the outstanding stock of Abacus Life, Inc. as a result of the successful Business Combination.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.