secwatch.observer — SEC 8-K summary
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Issuer:     GWG Holdings, Inc. (—)
CIK:        0001522690
Form:       8-K
Filed at:   2023-06-26T23:59:59+00:00
Accession:  0001213900-23-051587
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 1.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GWG Holdings bankruptcy plan confirmed; common stock cancelled, $1.8B liabilities vs $646M assets
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- Plan confirmed June 20, 2023; effective date targeted by July 31, 2023.
- All ~33.1M common shares to be cancelled; stockholders receive New Series E WDT Interests.
- CEO Jeffrey Stein gets $1.83M cash + 50K Beneficient shares; director Anthony Horton gets $120K.
- Monthly operating report (May 31, 2023): total assets $646.4M, total liabilities $1.8B.
- Wind Down Trust and Litigation Trust created to distribute remaining assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1522690/000121390023051587/0001213900-23-051587-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1522690/000121390023051587/ea179712-8k_gwgholdings.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-051587

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer