You’ve seen the commercials. Now, you can buy the stock. Today, J.G. Wentworth announced their common stock had been approved to begin trading on the OTCQX Market. The stock’s ticker will be JGWE and the stock will be publicly available on Monday June the 20th of 2016. In order to trade on the OTCQX Market, companies are required to file periodic reports with the Securities and Exchange Commission. J.G. Wentworth focuses on financial services and offers various solutions, such as mortgage, refinancing and lending.
The stock was originally traded on the New York Stock Exchange under the ticket JGW. The company received a notice of delisting or failure to satisfy a continued listing rule from the NYSE on May 31, 2016, due to the stock’s inability to maintain a $1.00 value or higher for a consecutive 30 day period. In other news, the company also announced the sale of up to $110.8 million dollars of structured settlement, annuity payment and lottery payment streams. The assets were bundled in two asset pools with the first equating to $50.0 million. The sale closed on June the 17th and netted the company $18 million in net case, after paying off existing warehouse facility costs. The second asset pool, which is valued up to $60 million, is currently slated to close sometime during the 3rd quarter of this year.
The company’s Chief Executive Officer, Stewart A. Stockdale, remains adamant that the company will continue to “find new avenues for funding” in additional to their ABS platform. For further information, be sure to check the company’s press release. Over the course of a year, the company’s stock has plummeted from $10 down to 39 cents. During the trading day on Friday, the stock added 6 cents to close at $0.45.
