Life insurance investor GWG Holdings sets terms for $20 million IPO


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GWG Holdings, which holds a portfolio of life insurance policies worth over $250 million, announced terms for its IPO on Friday. The Minneapolis, MN-based company plans to raise $20 million by offering 1.6 million shares at a price range of $11.50 to $13.50. At the midpoint of the proposed range, GWG Holdings would command a fully diluted market value of $112 million.

GWG Holdings, which was founded in 2006 and booked nearly $30 million in life settlements for the 12 months ended March 31, 2014, plans to list on the NASDAQ under the symbol GWGH. MLV & Co is the sole bookrunner on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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