DALLAS, July 01, 2020 (GLOBE NEWSWIRE) -- GWG Holdings, Inc. (Nasdaq: GWGH), an innovative financial services firm based in Dallas, announced today that it has successfully reached $1 billion in sales and closed its publicly registered L Bond offering, and is now raising capital in a new $2 billion offering of L Bonds.
The new L Bond offering is priced at $1,000 per share and provides fixed interest payments, paid monthly.
“We believe the closing of our $1 billion L Bond offering demonstrates the confidence our investors have shown in our company even through the COVID-19 pandemic,” said Murray Holland, GWGH’s Chief Executive Officer. “We are excited to have a new $2 billion L Bond offering available now that can provide the income, stability, and return our advisors and investors have come to rely on from us since 2009.”
Emerson Equity LLC is serving as the managing broker-dealer for the offering, which is being sold through a network of participating dealers and licensed financial advisors and representatives.
The company also announced that its publicly traded stock was once again included in the Russell 2000® Index, effective on June 29, 2020.
The Russell 2000 measures the performance of the small-cap segment of the U.S. equity market and is considered an important bellwether for the U.S. economy. Membership in the small-cap Russell 2000 Index is primarily determined by objective, market-capitalization rankings and style attributes and the 2020 list is reconstituted from the 4,000 largest U.S. stocks as of May 8, 2020, ranked by total market capitalization.
About GWG Holdings
GWG Holdings, Inc. (Nasdaq: GWGH) is an innovative financial services firm based in Dallas, Texas that is a leader in providing investments that are non-correlated to the traded markets, and unique liquidity solutions and services for the owners of illiquid investments. Through its subsidiaries, The Beneficient Company Group, L.P. and GWG Life, LLC, GWGH owns and manages a diverse portfolio of alternative assets that, as of March 31, 2020, included $2 billion in life insurance policy benefits, and exposure to a diversified and growing loan portfolio secured by 118 professionally managed alternative investment funds.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans and objectives of management are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "would," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among other things, statements about our estimates regarding future revenue and financial performance. We may not actually achieve the expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the expectations disclosed in the forward-looking statements we make. More information about potential factors that could affect our business and financial results is contained in our filings with the Securities and Exchange Commission, specifically including our registration statement on Form S-1 and any amendments and post-effective amendments thereto. Additional information will also be set forth in our future quarterly reports on Form 10-Q, annual reports on Form 10-K and other filings that we make with the Securities and Exchange Commission. We do not intend, and undertake no duty, to release publicly any updates or revisions to any forward-looking statements contained herein.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of GWG Holdings. Offers and sales may only be made by means of a prospectus, a copy of which may be obtained by sending a request to GWG Holdings at firstname.lastname@example.org or via telephone at (877) 494-2388. A prospectus may also be obtained at the SEC's website at www.sec.gov. This press release is being issued pursuant to and in accordance with Rule 134 under the Securities Act of 1933.