East Resources Acquisition called a June 29 meeting for shareholders to vote on the proposed merger with Abacus Settlements.
Abacus is a vertically integrated alternative asset manager specializing in life settlement insurance products.
Abacus Life entered into the $618M deal with East Resources in August.
Holders of the issued and outstanding interests of each company will receive approximately $531.8 million, payable in a number of newly issued shares of the SPAC's Class A common stock at $10 per share. To the extent the transaction proceeds exceed $200 million, at the election of the company members up to $20 million will be payable in cash. Read more.