GWG Holdings Receives Nasdaq Notification of Non-Compliance With Listing Rule 5250(c)(1)
May 24 2021 - 4:15PM
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 Quarterly
Report on Form 10-Q for the period ended March 31, 2021 (the Form
10-Q) and because the company has not yet 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) by June 15, 2021. 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.
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.
Media Contact:Dan CallahanDirector of
CommunicationGWG Holdings, Inc.(612) 787-5744dcallahan@gwgh.com
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