GWG Holdings Receives Nasdaq Notification of Non-Compliance With Listing Rule 5250(c)(1)
April 22 2021 - 4:30PM
GWG Holdings, Inc. (Nasdaq: GWGH) today announced that it received
a letter (the Letter) from the Listing Qualifications Department of
the Nasdaq Stock Market (Nasdaq) notifying the company that it was
not in compliance with requirements of Nasdaq Listing Rule
5250(c)(1) as a result of not having timely filed its Annual Report
on Form 10-K for the fiscal year ended December 31, 2020 (the Form
10-K).
The Letter has no immediate effect on the listing or trading of
GWGH’s common stock on the Nasdaq Capital Market. The Letter states
that the company is required to submit a plan to regain compliance
with Rule 5250(c)(1) within 60 calendar days from the date of the
Letter. If the plan is accepted by Nasdaq, then Nasdaq can grant
the company up to 180 calendar days from the due date of the Form
10-K to regain compliance.
GWGH anticipates that it will file its Form 10-K prior to the
60-day deadline and thereby regain compliance with the Nasdaq
continued listing requirements.
About GWG Holdings, Inc.
GWG Holdings, Inc. (Nasdaq: GWGH) is an
innovative financial services firm based in Dallas that is a leader
in providing 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 September 30, 2020, included $1.9 billion
in life insurance policy benefits, and exposure to a diversified
and growing loan portfolio secured by 122 professionally managed
alternative investment funds.
For more information about GWG Holdings,
email info@gwgh.com or visit www.gwgh.com. For more
information about Beneficient,
email askben@beneficient.com or
visit www.trustben.com.
The information on GWG Holdings’ and Beneficient’s websites is
not a part of, or incorporated by reference in, this press
release.
Cautionary Statement Regarding
Forward-Looking Statements
This press release contains statements that are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. We intend these
forward-looking statements to be covered by the safe harbor
provisions for such statements. All statements that do not concern
historical facts are forward-looking statements. The words
“believe,” “could,” “possibly,” “probably,” “anticipate,”
“estimate,” “project,” “expect,” “may,” “will,” “should,” “seek,”
“intend,” “plan,” “expect,” or “consider” and similar expressions
are intended to identify forward-looking statements but are not the
exclusive means of identifying such statements. Forward-looking
statements are subject to risks and uncertainties, which could
cause actual results to differ materially from such statements,
including, but not limited to the risk that we may not be able to
file the Form 10-K within the currently expected timeframe, risks
that we may not regain compliance with Nasdaq continued listing
requirements within the applicable grace period, as well as the
other risks set forth in our filings with the Securities and
Exchange Commission. These forward-looking statements should be
considered in light of these risks and uncertainties. We base
forward-looking statements on information currently available to us
at the time of this press release and undertake no obligation to
update or revise any forward-looking statements, whether as a
result of changes in underlying circumstances, new information,
future events or otherwise.
Media Contact:Dan CallahanDirector of
CommunicationGWG Holdings, Inc.(612) 787-5744dcallahan@gwgh.com
GWG (NASDAQ:GWGH)
Historical Stock Chart
From Mar 2024 to Apr 2024
GWG (NASDAQ:GWGH)
Historical Stock Chart
From Apr 2023 to Apr 2024