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GWG Holdings, Inc. (GWGH) reported financial results for Q3 2020, showing a net loss of $68.1 million, impacted by increased expenses and non-cash items. Revenue rose to $28.5 million, up from $22.2 million in the previous year. The life insurance portfolio achieved consistent performance with realized policy benefits of $39.8 million. The company continued its capital-raising efforts, reporting $114.1 million from L Bond sales. However, total liquidity decreased to $177.7 million, reflecting credit facility paydowns. GWGH's focus remains on enhancing enterprise value and diversifying revenue streams.
GWG Holdings, Inc. (Nasdaq: GWGH) has announced it will release its third quarter 2020 financial results on November 23, 2020, at 4:30 p.m. EST. Following the release, a webcast will be held to discuss the results. Participants can access both audio and PowerPoint slides during the call. The company highlights its leadership in innovative financial services, boasting a significant portfolio of $1.9 billion in life insurance policy benefits and a diverse loan portfolio.
GWG Holdings, Inc. (Nasdaq: GWGH) has expanded its Board of Directors by adding two new members, bringing the total to ten. The new directors, Daniel Fine and David S. Gruber, possess extensive experience in financial services, real estate, and executive management. Fine has a background in telecom, real estate, and private equity, while Gruber specializes in commercial real estate development. CEO Murray Holland emphasized the importance of their expertise in supporting the company’s strategic goals and value delivery to stakeholders.
GWG Holdings reported second quarter 2020 results, showing a net loss of $18.1 million, an improvement from the $25.6 million loss in Q2 2019. The company's total revenue surged to $68.8 million, primarily due to a $36.3 million income from Beneficient’s equity compensation forfeiture. GWGH ended the quarter with total assets of $3.7 billion and a life insurance portfolio valued at $2.0 billion. Liquidity grew to $219.7 million. The company continues to expand its operations and has initiated a new $2 billion L Bond offering following the successful closure of a $1 billion bond offering.
GWG Holdings, Inc. (Nasdaq: GWGH) will release its second quarter 2020 financial results on August 14, 2020. A webcast to discuss these results will take place on August 17, 2020, at 4:30 p.m. EDT, featuring audio and PowerPoint slides for registered viewers. As of March 31, 2020, GWGH managed a diverse portfolio of alternative assets valued at $2 billion in life insurance policy benefits and a growing loan portfolio secured by 118 professionally managed investment funds.
GWG Holdings, Inc. (Nasdaq: GWGH) has appointed two experienced executives to its sales division. Michele Drummond becomes Vice President of National Accounts, focusing on broker-dealers and RIAs in the western U.S., while Ben Hilgers is named Regional Vice President for Florida and Puerto Rico. Drummond has 15 years of experience, having worked at firms like Deutsche Bank, and holds Series 7 and 63 licenses. Hilgers joins after 17 years in sales roles and is a CFP® holder with several securities licenses. These hires aim to enhance service in key territories.
GWG Holdings, Inc. (GWGH) announced the closure of its $1 billion L Bond offering and is launching a new $2 billion L Bond offering priced at $1,000 per share, providing monthly fixed interest payments. The CEO emphasized investor confidence during the COVID-19 pandemic. Additionally, GWGH's stock has been included in the Russell 2000 Index, which is significant for small-cap stocks and the U.S. economy. With a portfolio valued at $2 billion in life insurance benefits and a diverse loan portfolio, GWGH continues to position itself as a leader in alternative investments.
GWG Holdings (GWGH) announced its Q1 2020 financial results, reporting a net loss of $49.4 million compared to a loss of $18.9 million in Q1 2019. Revenue increased to $33.6 million, driven by the consolidation of The Beneficient Company Group, while total expenses surged to $124.1 million due to significant equity-based compensation. Despite challenges from COVID-19, GWGH raised $110.8 million through L Bonds and maintained a life insurance portfolio valued at $2.0 billion. The company continues to focus on its investment in Ben, having closed its Life Care Exchange program.
GWG Holdings, Inc. (Nasdaq: GWGH) will release its first quarter 2020 financial results on May 15, 2020. A webcast presentation is scheduled for May 18, 2020, at 4:30 p.m. EDT, aimed at discussing these results. This event will include audio and PowerPoint slides for better viewer understanding. Utilizing innovative liquidity products, GWGH focuses on the alternative asset industry and is the parent company of GWG Life, which manages a $2.02 billion portfolio in life insurance policies as of December 31, 2019.
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