January 18, 2018 / 9:27 PM / a month ago

BRIEF-GWG Holdings Announces Strategic Relationship With Beneficient Co Group

Jan 18 (Reuters) - GWG Holdings Inc:

* GWG HOLDINGS INC -

* GWG HOLDINGS INC - ANNOUNCED A STRATEGIC RELATIONSHIP WITH BENEFICIENT COMPANY GROUP, L.P

* GWG HOLDINGS INC - AS PART OF STRATEGIC RELATIONSHIP, GWGH WILL ACQUIRE 82% OF OUTSTANDING BEN MLP UNITS FROM EXISTING UNITHOLDERS OF BEN

* GWG HOLDINGS INC - BEN WILL HAVE IN EXCESS OF $800 MILLION OF TANGIBLE FINANCIAL ASSETS PRO FORMA FOR TRANSACTION

* GWG HOLDINGS INC - GWGH WILL ALSO ENTER INTO A $400 MILLION, FOUR-YEAR COMMERCIAL LOAN WITH BEN

* GWG HOLDINGS - TOTAL CONSIDERATION FOR BEN INTERESTS ACQUIRED BY GWGH TO BE $150 MILLION IN CASH AND UP TO $650 MILLION IN GWGH COMMON STOCK AT $10.00/SHARE

* GWG HOLDINGS INC - TOTAL CONSIDERATION FOR BEN INTERESTS ACQUIRED BY GWGH INCLUDES FIVE-YEAR GWGH L-BONDS

* GWG HOLDINGS- TRANSACTION WILL BE FINANCED FROM ISSUANCE OF $400 MILLION OF COMMON STOCK AT $10.00 PER SHARE, $400 MILLION IN 5-YEAR GWGH L-BONDS

* GWG HOLDINGS - TRANSACTION WILL ALSO BE FINANCED FROM $150 MILLION IN CASH FROM AN AFFILIATED UNITHOLDER OF BEN Source text for Eikon: Further company coverage:

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