GWG Holdings Prices IPO Of 800,000 Shares At $12.50/share - Quick Facts

(RTTNews) - Life insurance provider GWG Holdings, Inc. (GWGH) priced its registered initial public offering of its common stock at a price of $12.50 per share.

The company estimates that it will sell 800,000 shares of common stock, resulting in net proceeds of about $9.03 million after the deduction of underwriting commissions, discounts and expense reimbursements.

The company said it has applied to list its common stock on the NASDAQ Capital Market under the ticker symbol "GWGH."

The company intends to use the net proceeds from the offering to promote and advertise the opportunities for consumers owning life insurance and investors to profit from participating in the secondary market for life insurance policies, purchase additional life insurance policies in the secondary market, pay premiums on the company's life insurance policy assets, fund its portfolio operations, and for working capital purposes.

The offering is expected to close on September 24, 2014, subject to customary closing conditions.

Newport Coast Securities, Inc., Axiom Capital Management, Inc. and Newbridge Securities Corporation acted as the underwriters for the offering.