Abacus Global Management adds $75M in incremental term loans

Abacus Global Management, Inc. amended its credit agreement on June 29, 2026, adding $75,000,000 in incremental term loans and bringing the total aggregate principal amount under the amended facility to $225,000,000, according to an 8-K filing with securities regulators.

The amendment was made to the original credit agreement dated December 10, 2024, with GLAS USA LLC serving as administrative agent and collateral agent. At the time of the amendment, the company had $148,125,000 in aggregate principal outstanding under the amended credit agreement.

All amounts under the amended agreement mature on December 10, 2030. The interest rate remains based on an adjusted term Secured Overnight Financing Rate (SOFR) plus a fixed rate of 5.25% per annum, with a potential stepdown to 5.00% if the company meets certain metrics related to consolidated adjusted EBITDA and total leverage ratios. Quarterly amortization payments are set at 1.00% per annum of the applicable outstanding principal amounts, with the remaining balance due at maturity.

The incremental term loans may be prepaid in amounts of $1.0 million or more at any time, subject to a 1.00% premium if prepaid within 12 months of the funding date. All other material terms of the original credit agreement remain unchanged.

Separately, the company disclosed that board director Sean McNealy resigned effective June 30, 2026, citing planned retirement. The company stated his departure was not the result of any disagreement with management or the board. McNealy will remain with the company as an advisor during a transition period and will also step down from all director and officer roles at company subsidiaries on or before December 31, 2026.

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