Sean McNealy, a co-founder and the president of Abacus Global Management (OTC: ABX), indirectly acquired 86,207 shares of the company's common stock at a per-share price of $5.774, for a total outlay of $497,759, according to a Form 4/A filing with the Securities and Exchange Commission. The transaction was completed on June 4, 2025, and the filing specifies that the shares are held indirectly through a limited liability company jointly owned with McNealy's spouse.
The stock has since advanced to $8.88, a move that represents a 54% gain relative to the purchase price disclosed on the Form 4/A. InvestingPro data cited in the filing notes that ABX has produced a 42.12% return over the past six months, and the company recorded a 7.12% return in the most recent week.
The filing also clarifies McNealy's broader ownership. It reports that he directly holds 12,369,500 shares of Abacus Global Management, and it corrects an earlier reporting mistake in which the indirectly held 86,207 shares were mistakenly counted as part of his direct holdings. In addition, the filing reflects the vesting of 8,000 Restricted Stock Units (RSUs) that convert to common stock on a one-for-one basis under a grant dated February 13, 2024.
InvestingPro analysis included with the filing indicates that ABX appears undervalued relative to its Fair Value and that analyst price targets for the stock range from $11 to $15. The analysis also notes that the company has been profitable over the last twelve months. For subscribers, the Pro Research Report for this stock offers additional analysis and "8 more exclusive InvestingPro Tips," according to the materials accompanying the filing.
Beyond insider activity and valuation commentary, Abacus Global Management disclosed strategic business developments. The company has launched an asset-based finance strategy within its Asset Group, targeting a market the filing describes as having $20 trillion in potential. The initiative will be led by Monty Cook, Head of Private Credit at Abacus, together with Elena Plesco, the firm's Chief Capital Officer. Both executives are identified in the filing as having significant experience in asset-based finance and specialty finance.
In a separate operational move, Abacus confirmed the transfer of its stock listings from the Nasdaq to the New York Stock Exchange. The relocation covers both the company's common stock and its 9.875% Fixed Rate Senior Notes due 2028. Trading on the NYSE will take place under the ticker "ABX" for the common stock and "ABXL" for the 2028 notes. The company stated that the final trading day on Nasdaq was the day before the NYSE listing began.
Taken together, the filing combines an insider purchase and ownership clarification with corporate strategy updates and a market-listing transition. The disclosure provides a consolidated view of McNealy's holdings, the vesting of executive equity, near-term price performance metrics, third-party valuation commentary, and the company's directional moves in product and market access.
Key points
- Insider purchase: Sean McNealy indirectly bought 86,207 shares at $5.774 each on June 4, 2025, totaling $497,759, held via an LLC jointly owned with his spouse.
- Ownership and correction: McNealy directly holds 12,369,500 shares; the filing corrects a prior error that had included the indirectly held shares in his direct holdings.
- Corporate moves: Abacus launched an asset-based finance strategy targeting a $20 trillion market and moved listings from Nasdaq to the NYSE under symbols ABX and ABXL for its 2028 notes.
Risks and uncertainties
- Reporting adjustments: A prior filing error required correction, indicating potential for administrative or disclosure risk in filings affecting investor clarity.
- Valuation range uncertainty: Analyst price targets cited run from $11 to $15, indicating a range of expectations that could translate to differing investor outcomes.
- Market execution: The success of the new asset-based finance strategy and the market response to the NYSE listing are outcomes the filing presents as underway but does not quantify, leaving future performance uncertain.
For reference, the filing and accompanying InvestingPro material provide the underlying figures and analyst commentary summarized above.