8-K/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K/A

AMENDMENT NO. 1 to

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): April 16, 2016

GWG Holdings, Inc.

(Exact name of registrant as specified in its charter)

Delaware	None	26-2222607
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

220 South Sixth Street, Suite 1200, Minneapolis, MN	55402
(Address of principal executive offices)	(Zip Code)

(612) 746-1944

(Registrant's telephone number, including area code)

Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 NOTE OF EXPLANATION  

      GWG Holdings, Inc. is filing this Amendment No. 1 to its Current Report on Form 8-K, to file the press release attached to this report as Exhibit 99.1. The attached press release corrects an error contained in the press release attached to the original Current Report on Form 8-K filed on August 16, 2016 with respect to non-GAAP net asset value reported therein.

Item 2.02 Results of Operations and Financial Condition.

On August 19, 2016, GWG Holdings, Inc. issued a press release correcting certain non-GAAP financial information contained in its Quarterly Report on Form 10-Q filed on August 12, 2016, and a press release issued on August 16, 2016, in each case relating to its fiscal quarter ended June 30, 2016. This correcting press release shall be considered “filed” (and not “furnished”) as part of this report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d)           Exhibits

99.1    GWG Holdings, Inc. Press Release dated August 19, 2016

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	GWG Holdings, Inc.
Date: August 19, 2016	By:	/s/ William Acheson
		William Acheson
		Chief Financial Officer

2

Exhibit Index

Exhibit No.	Description
99.1	GWG Holdings, Inc. Press Release dated August 19, 2016

3

EX-99.1

Exhibit 99.1

 

GWG HOLDINGS, INC. ANNOUNCES CORRECTION
TO NON-GAAP NET ASSET VALUE CALCULATION

MINNEAPOLIS, MN – August 19, 2016 – On August 12, 2016 (in its Quarterly Report on Form 10-Q) and August 16, 2016 (in an earnings press release), GWG Holdings, Inc. (Nasdaq: GWGH) reported non-GAAP net asset value of $111,858,000, or $18.72 per common share, at June 30, 2016, based on an aggregate redemption value of preferred stock of $24,418,000. Following the release of this information, GWG Holdings identified an error in calculation that had inadvertently omitted the redemption value of Redeemable Preferred Stock sold during the second quarter of 2016. As a result, the corrected aggregate preferred stock redemption value at June 30, 2016 was $34,799,000, resulting in a corrected non-GAAP net asset value of $101,477,000, or $16.98 per common share, at June 30, 2016.

Other than as explained above, all other information originally reported remains unchanged. The correction described herein has no impact on the company’s assets or stockholders’ equity, revenue, or income (loss) for the second quarter or the first six months of 2016, nor does it impact cash flow or liquidity. 

About GWG Holdings, Inc.

GWG Holdings, Inc. (Nasdaq: GWGH) is a specialty finance company and a leader in the life insurance secondary market. GWG is dedicated to creating a vibrant life insurance secondary market for the economic benefit of seniors with life insurance who are seeking post-retirement financial solutions, investors seeking yield derived from non-correlated assets, financial advisors seeking value-added products and services for their clients, and shareholders seeking to gain from the realization of this marketplace. As of June 30, 2016, GWG’s growing portfolio consisted of over $1.1 billion in face value of policy benefits. Since 2006, GWG has purchased over $2 billion in life insurance policy benefits and paid seniors $357 million for their life insurance.

For more information about GWG Holdings, email info@gwglife.com or visit www.gwglife.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans and objectives of management are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "would," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among other things, statements about our estimates regarding future revenue and financial performance. We may not actually achieve the expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the expectations disclosed in the forward-looking statements we make. More information about potential factors that could affect our business and financial results is contained in our filings with the Securities and Exchange Commission. Additional information will also be set forth in our future quarterly reports on Form 10-Q, annual reports on Form 10-K and other filings that we make with the Securities and Exchange Commission. We do not intend, and undertake no duty, to release publicly any updates or revisions to any forward-looking statements contained herein.

Investor Contacts:

Larry Clark (310) 622-8223

Financial Profiles, Inc.

GWGH@finprofiles.com

Media Contacts:

Rose Reifsnyder

Senior Vice President, Marketing

GWG Holdings, Inc.

(612) 840-7204

rreifsnyder@gwglife.com