Abacus Global Management Inc-A 2024年度报告

(Mark One) xANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the fiscal year ended December 31, 2024OR oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the transition period from _____ to _____Commission file number 001-39403 Abacus Global Management, Inc.(Exact name of registrant as specified in its charter) Delaware85-1210472 (State or other jurisdiction of incorporation ororganization) (I.R.S. Employer Identification No.) 2101 Park Center Drive, Suite 200Orlando Florida (Address of Principal Executive Offices)(Zip Code) (800) 561-4148Registrant's telephone number, including area code Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of theSecurities Act.Yes☐Nox Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section15(d) of the Act.Yes☐Nox Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter periodthat the registrant was required to file such reports); and (2) has been subject to such filing requirementsfor the past 90 days.Yes xNo o Indicate by check mark whether the registrant has submitted electronically every Interactive Data Filerequired to besubmitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for suchshorter period that the registrant was required to submit such files).Yes xNo o Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of“large accelerated filer”, “acceleratedfiler”, “smaller reporting company”, and "emerging growth company" in Rule 12b-2 of the Exchange Act.: If an emerging growth company, indicate by check mark if the registrant has elected not to use theextended transition period for complying with any new or revised financial accounting standards providedpursuant to Section 13(a) of the Exchange Act. x Indicate by check mark whether the registrant has filed a report on and attestation to its management’sassessment of the effectiveness of its internal control over financial reporting under Section 404(b) of theSarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issuedits audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether thefinancial statements of the registrant included in the filing reflect the correction of an error to previouslyissued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recoveryanalysis of incentive-based compensation received by any of the registrant’s executive officers during therelevant recovery period pursuant to§240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).YesoNo x APPLICABLE ONLY TO REGISTRANTS INVOLVED IN BANKRUPTCYPROCEEDINGS DURING THE PRECEDING FIVE YEARS: Indicate by check mark whether the registrant has filed all documents and reports required to be filed bySection 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securitiesunder a plan confirmed by a court. o Yes o No APPLICABLE ONLY TO CORPORATE ISSUERS: The aggregate market value of shares of common stock held by non-affiliates at June 30, 2024, was$108,967,000. The registrant had 96,853,039 shares of common stock, $0.0001 par value per share, outstanding as ofMarch 26, 2025. Documents Incorporated by Reference: Certain portions of the Definitive Proxy Statement for the 2025Annual Meeting of Shareholders are incorporated by reference into Part III of this Form 10-K. Table of Contents ABACUS GLOBAL MANAGEMENT, INC. TABLE OF CONTENTS Page PART I Item 1.Business1Item 1A.Risk Factors11Item 1B.Unresolved Staff Comments34Item 1C.Cybersecurity34Item 2.Properties35Item 3.Legal Proceedings35Item 4.Mine Safety Disclosures35PART IIItem 5.Market for Registrant's Common Equity, Related Stockholder Matters andIssuer Purchases of Equity Securities35Item 6.[Reserved]36Item 7.Management's Discussion and Analysis of Financial Condition andResults of Operations37Item 7A.Quantitative and Qualitative Disclosures about Market Risk65Item 8.Financial Statements and Supplementary Data66 Item 9.Changes in and Disagreements with Accountants on Accounting andFinancial Disclosure132 132 Item 9A.Controls and Procedures Item 9B.Other Information132Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections133PART IIIItem 10.Directors, Executive Officers and Corporate Governance133Item 11.Executive Comp