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.
