Beneficient Company Group acquires shares in GWG Holdings, Inc.
Client(s) Beneficient Company Group, LP, The
Jones Day advised The Beneficient Company Group, L.P. (BEN), a provider of liquidity products and services to the owners of alternative assets and illiquid investment funds, in its acquisition of shares in GWG Holdings, Inc. (GWG Holdings), a NASDAQ listed company that is a leading provider of liquidity to owners of life insurance in the secondary market, previously held by GWG Holdings’ founding stockholders, Jon R. Sabes and Steven F. Sabes. Pursuant to the transaction, individuals designated by BEN were appointed to the GWG Holdings board of directors such that that board became comprised solely of BEN designees. The transaction facilitates the expansion of an existing strategic partnership between BEN and GWG Holdings. In connection with the acquisition, Jones Day also advised The Beneficient Company with respect to compliance with SEC rules and Nasdaq.