{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-259619","form_type":"8-K","ticker":"BENF","cik":"0001775734","company_name":"Beneficient","filed_at":"2023-10-20T23:59:59+00:00","discovered_at":"2026-05-14T18:03:30.384637+00:00","generated_at":"2026-06-09T18:45:03.205704+00:00","sec_items":["1.01","2.02","2.03","3.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Beneficient expects Q1 goodwill impairment and $50-60M write-down; enters $25M related-party loan","bullets":["Expects significant goodwill impairment from interim analysis triggered by stock price decline.","Expects $50-60M write-down on net asset value of interests in GWG Wind Down Trust as of Sep 30, 2023.","Entered $25M term loan with HH-BDH LLC (affiliate of board member Thomas O. Hicks) on Oct 19, 2023.","Loan interest at Base+2.50% or SOFR+3.50%; additional 2-3% fee to Hicks Holdings until maturity Oct 2026.","Loan secured by substantially all assets of borrower and equity interests; related-party transaction."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-259619","json":"https://secwatch.observer/filing/0001193125-23-259619.json","markdown":"https://secwatch.observer/filing/0001193125-23-259619.md","text":"https://secwatch.observer/filing/0001193125-23-259619.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1775734/000119312523259619/0001193125-23-259619-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1775734/000119312523259619/d559348d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-09T18:45:03.205704+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"900502e205acec48d8ef3e803d058c3995188692","claim":"Beneficient incurred term loan of $25.0 million with HH-BDH LLC at Base Rate plus 2.50% or Adjusted Term SOFR plus 3.50% or Adjusted Daily Simple S maturing October 19, 2026.","evidence_excerpt":"The Credit Agreement provides for a three-year term loan in the aggregate principal amount of $25.0 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1775734/000119312523259619/0001193125-23-259619-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$25.0 million"},{"label":"Counterparty","value":"HH-BDH LLC"},{"label":"Rate","value":"Base Rate plus 2.50% or Adjusted Term SOFR plus 3.50% or Adjusted Daily Simple S"},{"label":"Maturity","value":"October 19, 2026"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"6f0910e61b8d11d9cc485ce4c830d43a5200760f","claim":"Beneficient reported preliminary financial results for the three months ended September 30, 2023.","evidence_excerpt":"The Company is in the process of its quarter-end closing procedures for the three and six months ended September 30, 2023. While conducting its quarter-end closing procedures, the Company identified the following items that it preliminarily expects to record for the quarter ended September 30, 2023: (i) a significant impairment of goodwill resulting from an interim goodwill impairment analysis","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1775734/000119312523259619/0001193125-23-259619-index.htm","confidence":0.93,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the three months ended September 30, 2023"},{"label":"Result","value":"preliminary results"}],"fact_type":"earnings_release"},{"claim_id":"9c33d9040ca1c2b2dcce8b75c9752e3b212e278a","claim":"Beneficient entered into Credit Agreement with HH-BDH LLC valued at $25.0 million (effective 2023-10-19).","evidence_excerpt":"On October 19, 2023, Beneficient Financing, L.L.C. (the “Borrower”), a wholly owned subsidiary of Beneficient, a Nevada corporation (the “Company”), and Beneficient Company Holdings, L.P., as guarantor (the “Guarantor” and together with the Borrower, the “Loan Parties”), entered into a Credit and Guaranty Agreement (the “Credit Agreement”) with HH-BDH LLC (the “Lender”), as administrative agent.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1775734/000119312523259619/0001193125-23-259619-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"HH-BDH LLC"},{"label":"Value","value":"$25.0 million"},{"label":"Effective","value":"2023-10-19"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}