GWG Holdings Clears Final Regulatory Hurdle for Transaction with The Beneficient Company
MINNEAPOLIS, Dec. 06, 2018 (GLOBE NEWSWIRE) -- GWG Holdings, Inc. (Nasdaq: GWGH ) announced today that it has received clearance from the Securities and Exchange Commission (SEC) to file with the SEC and mail to its stockholders a definitive Information Statement on Schedule 14C relating to its transaction with The Beneficient Company Group, L.P. (BEN) and associated parties.
GWGH anticipates that the transaction will close by December 27, 2018, twenty-days after the mailing of the definitive Information Statement.
About GWG Holdings, Inc.
GWG Holdings, Inc. (Nasdaq: GWGH), the parent company of GWG Life, Life Epigenetics and YouSurance, is a leading provider of liquidity to consumers owning life insurance policies, an owner of a portfolio of alternative assets, and the developer of epigenetic technology for the life insurance industry and beyond. GWG Life provides value to consumers owning illiquid life insurance products across America, delivering them more than $564 million for their policies since 2006. GWG Life owns a life insurance policy portfolio of $1.96 billion in face value of policy benefits as of September 30, 2018. Life Epigenetics is commercializing epigenetic technology for the life insurance industry and beyond. YouSurance, a digital life insurance agency, is working to embed epigenetic testing into life insurance purchasing to provide consumers a value-added ecosystem that supports their health and wellness while reducing the cost of their insurance.
About The Beneficient Company Group, L.P. (BEN)
Based in Dallas, TX, BEN markets an array of lending and liquidity products along with retirement fund products to mid-to-high net worth individuals and to institutional investors. In addition to these product offerings, BEN offers a variety of services to individuals including fund administration, retirement funds and insurance services for covering risks attendant to owning or managing alternative assets. BEN will offer these services to individuals and institutions through its U.S.-based subsidiaries. For more information about BEN, visit www.trustben.com.
For GWG Holdings, Inc. Dan Callahan Director of Communication 612.746.1935
For the Beneficent Company Group, L.P. Mark Semer or Daniel Yunger Kekst CNC 212.521.4800