GWG Holdings, Inc. (NASDAQ:GWGH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
On February 21, 2020, Michelle Caruso-Cabrera resigned as a director of GWG Holdings, Inc. (the “Company”) and Beneficient Management, L.L.C., the general partner of The Beneficient Company Group, L.P. (“Ben”) due to her campaign for Congress in New York’s 14th congressional district. Ms. Caruso-Cabrera’s resignation was not due to any disagreement with the Company or Ben on any matter relating to the operations, policies or practices of the Company or Ben.
About GWG Holdings, Inc. (NASDAQ:GWGH)
GWG Holdings, Inc. is a specialty finance company. The Company is a financial purchaser of life insurance assets in the secondary market. The Company creates opportunities for consumers owning life insurance to obtain value for their policies as compared to the traditional options offered by insurance companies. The Company also creates opportunities for investors to participate in alternative asset classes, such as life insurance, not correlated to traditional financial markets. The Company conducts its life insurance related business through its subsidiary, GWG Life, LLC. It generally purchases life insurance assets directly from policy owners having purchased their life insurance in the primary market. Its operational platform offers various options to customers based on the market value of their life insurance, including selling the entire policy benefit for cash, or selling a portion of the policy benefit and retaining a portion of the benefit with no future premium obligation.