Why Abacus Global Management Stock Inched Higher Today
The company managed to increase the size of a credit facility by 50%.
Overview
Abacus Global Management (NYSE: ABX) stock ended Monday in positive territory on news that it had secured tens of millions of dollars in new funding and on the apparently smooth transition of an outgoing company official.
Shares of the alternative asset management company focused on insurance policies closed that trading session more than 1% higher, eking out a win over the S&P 500 index, which rose by 0.7%.
Details
Just before last week's Friday trading holiday, Abacus divulged in a regulatory filing that it managed to upsize an existing syndicated credit facility, and at quite a substantial amount.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.