\nAbacus Settlements, LLC (d\/b\/a Abacus Life) and Longevity Market Assets, LLC (together \u201cAbacus\u201d or the \u201cCompany\u201d), a leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, will participate in a virtual fireside chat with The Palm Beach Hedge Fund Association and IPO Edge Friday, June 23, 2023 at 9:00am ET.<\/p>\n
\nThe live event will feature Abacus President and CEO, Jay Jackson and will be moderated by IPO Edge Editor-in-Chief John Jannarone who will discuss:<\/p>\n
- \n
- \nAbacus\u2019 business combination with East Resources Acquisition Company (NASDAQ: ERES);<\/p>\n<\/li>\n
- \nCurrent ownership structure and growth story;<\/p>\n<\/li>\n
- \nAbacus\u2019 business model;<\/p>\n<\/li>\n
- \nScale of the business and growth projections;<\/p>\n<\/li>\n
- \nExpectations for capital raises or new investors in the next couple of years;<\/p>\n<\/li>\n
- \nAbacus\u2019 acquisition strategy whether core or opportunistic;<\/p>\n<\/li>\n
- \nRecent or forward-looking growth metrics;<\/p>\n<\/li>\n<\/ul>\n
\nThe hour-long video session will include a Q&A with the audience. Interested parties can submit their questions ahead of the event via email to editor@ipo-edge.com<\/a>.<\/p>\n
\nTo register for the event, please CLICK HERE<\/a>.<\/p>\n
\nAbacus Life has entered into a definitive merger agreement with East Resources Acquisition Corporation (NASDAQ: ERES) (\u201cERES\u201d), a special purpose acquisition company, that will result in Abacus becoming a publicly listed company. Upon closing of the transaction, which is expected to close on June 30, 2023, the combined company will be named Abacus Life, Inc. and is expected to remain listed on Nasdaq under the new ticker symbol \u201cABAL.\u201d<\/p>\n
About Abacus<\/b><\/p>\n
\nAbacus is a leading vertically integrated alternative asset manager specializing in life insurance products. Since 2004, the company has purchased life insurance policies from consumers seeking liquidity and has actively managed those policies over time (via trading, holding, and\/or servicing). With over $2.9 billion in face value of policies purchased, Abacus has helped thousands of clients maximize the value of life insurance.<\/p>\n
\nOver the past 18 years, the company has built an institutionalized origination and portfolio management process that is supported by a 83-person team, long-term relationships with 78 institutional partners and 30,000 financial advisors, and the ability to operate in 49 states. The company has serviced approximately $950 million in policies and has managed assets for large asset managers and third-party investment funds.<\/p>\n
\nAbacus\u2019 leadership team averages 20+ years of experience and have been innovators since the life settlements industry\u2019s inception in the mid-90s.<\/p>\n
\nThe company is a proud member of the Life Insurance Settlements Association (LISA) and complies with HIPAA and privacy laws to maintain and protect confidentiality of financial, health, and medical information. Abacus is also proud to be a BBB Accredited Business with an A+ rating.<\/p>\n
www.Abacuslife.com<\/a><\/p>\n
About East Resources Acquisition Company<\/b><\/p>\n
\nEast Resources Acquisition Company, led by Terrence (Terry) M. Pegula, is a blank check company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses in North America.<\/p>\n
Forward-Looking Statements<\/b><\/p>\n
\nThis communication contains certain forward-looking statements within the meaning of the federal securities laws with respect to the transaction, including statements regarding the anticipated benefits of the transaction, the anticipated timing of the transaction, the future financial condition and performance of Abacus and expected financial impacts of the transaction (including future revenue and pro forma enterprise value) and the platform and markets and expected future growth and market opportunities of Abacus. These forward-looking statements generally are identified by the words \u201cbelieve,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cstrategy,\u201d \u201cfuture,\u201d \u201cscales,\u201d \u201crepresentative of,\u201d \u201cvaluation,\u201d \u201cpotential,\u201d \u201copportunity,\u201d \u201cplan,\u201d \u201cmay,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201cwill be,\u201d \u201cwill continue,\u201d \u201cwill likely result,\u201d and similar expressions or the negatives of these terms or variations of them. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are inherently subject to risks and uncertainties. These forward\u2010looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are beyond ERES\u2019s or Abacus\u2019s control, are difficult or impossible to predict and may differ from assumptions. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of ERES\u2019s securities, (ii) the risk that the transaction may not be completed by ERES\u2019s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by ERES, (iii) the failure to satisfy the conditions to the consummation of the transaction, including the requisite approvals of ERES\u2019s stockholders and Abacus\u2019s owners, the satisfaction of the minimum aggregate transaction proceeds amount following any redemptions by ERES\u2019s public stockholders and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third party valuation in determining whether or not to pursue the transaction, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement relating to the transaction, (vi) the effect of the announcement or pendency of the transaction on Abacus\u2019s business or employee relationships, operating results and business generally, (vii) the risk that the transaction disrupts current plans and operations of Abacus, (viii) the risk of difficulties in retaining employees of Abacus as a result of the transaction, (ix) the outcome of any legal proceedings that may be instituted against Abacus or against ERES related to the merger agreement or the transaction, (x) the ability to maintain the listing of ERES\u2019s securities on a national securities exchange, (xi) changes in the competitive industries in which Abacus operate, variations in operating performance across competitors, changes in laws and regulations affecting Abacus\u2019s business and changes in the combined capital structure, (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the transaction, and the ability to identify and realize additional opportunities, (xiii) risks related to the uncertainty of Abacus\u2019s projected financial information, (xiv) current and future conditions in the global economy, including as a result of the impact of the COVID-19 pandemic, (xv) the risk that demand for Abacus\u2019s life settlement and related offerings does not grow as expected, (xvi) the ability of Abacus to retain existing customers and attract new customers, (xvii) the potential inability of Abacus to manage growth effectively, (xviii) the potential inability of Abacus to grow its market share of the life settlement industry or to achieve efficiencies regarding its operating model or other costs, (xix) negative trends in the life settlement industry impacting the value of life settlements, including increases to the premium costs of life insurance policies, increased longevity of insureds, and errors in the methodology and assumptions of life expectancy reports, (xx) legal challenges by insurers relating to the validity of the origination or assignment of certain life settlements, (xxi) the enforceability of Abacus\u2019s intellectual property rights, including its trademarks and trade secrets, and the potential infringement on the intellectual property rights of others, (xxii) Abacus\u2019s dependence on senior management and other key employees, (xxiii) the risk of downturns and a changing regulatory landscape in the industry in which Abacus operates, and (xxiv) costs related to the transaction and the failure to realize anticipated benefits of the transaction or to realize estimated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions. The foregoing list of factors is not exhaustive.<\/p>\n
\nNothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should carefully consider the foregoing factors and the other risks and uncertainties which will be more fully described in the \u201cRisk Factors\u201d section of the proxy statement discussed below and other documents filed by ERES from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers of this communication are cautioned not to put undue reliance on forward-looking statements, and Abacus and ERES assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Abacus nor ERES gives any assurance that any of Abacus or ERES, or the combined company, will achieve expectations.<\/p>\n
Additional Information About the Proposed Transaction and Where to Find It<\/b><\/p>\n
\nThis communication relates to the proposed transaction between ERES and Abacus. In connection with the proposed transaction, ERES has filed with the SEC a preliminary proxy statement on Schedule 14A (the \u201cproxy statement\u201d). ERES will also file other documents regarding the transaction with the SEC. Before making any voting decision, investors, security holders and other interested persons of ERES and Abacus are urged to read the proxy statement (including all amendments and supplements thereto), which is currently available, and all other relevant documents filed or that will be filed with the SEC in connection with the transaction as they become available because they will contain important information about the transaction. Investors, security holders and other interested persons will be able to obtain free copies of the proxy statement and all other relevant documents filed or that will be filed with the SEC by ERES through the website maintained by the SEC at www.sec.gov<\/a>. The documents filed by ERES with the SEC also may be obtained free of charge upon written request to ERES at 7777 NW Beacon Square Boulevard, Boca Raton, Florida.<\/p>\n
Participants in the Solicitation<\/b><\/p>\n
\nERES, Abacus and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from ERES stockholders in connection with the transaction. A list of the names of such directors and executive officers and information regarding their interests in the transaction are or will be contained in the proxy statement. You can find more information about ERES\u2019s directors and executive officers in ERES\u2019s Annual Report on Form 10-K for the year ended December 31, 2021, which ERES filed with the SEC on June 22, 2022. You may obtain free copies of these documents as described in the preceding paragraph.<\/p>\n
No Offer or Solicitation<\/b><\/p>\n
\nThis communication does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, sale, or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act, or an exemption therefrom.<\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230622118729\/en\/<\/a><\/span><\/p>\n
\nEast Resources Acquisition Company
\n
Investor Contact: Kelly Seward
\n
info@eastresources.com<\/a><\/p>\n\nAbacus Life Investor Relations
\n
investors@abacuslife.com<\/a><\/p>\n