{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-24-025322","form_type":"8-K","ticker":"BENF","cik":"0001775734","company_name":"Beneficient","filed_at":"2024-02-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:25.483766+00:00","generated_at":"2026-06-06T08:22:43.078392+00:00","sec_items":["3.02","5.03","3.03","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Beneficient issues convertible preferred stock in two private placements","bullets":["Issued 200,000 shares of Series B-2 Preferred (convertible at $0.40, floor $0.20) in exchange for a $2M NAV limited partner interest.","Issued 20,000 shares of Series B-3 Preferred (convertible at $0.35, floor $0.175) to a consultant for investor relations services.","Both issuances unregistered under Section 4(a)(2) and Regulation D; each has a 4.99% beneficial ownership limitation.","Series B-2 convertible into up to 10M shares of Class A common; Series B-3 into up to 1.14M shares."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-24-025322","json":"https://secwatch.observer/filing/0001193125-24-025322.json","markdown":"https://secwatch.observer/filing/0001193125-24-025322.md","text":"https://secwatch.observer/filing/0001193125-24-025322.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1775734/000119312524025322/0001193125-24-025322-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1775734/000119312524025322/d72720d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T08:22:43.078392+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":"039da3feba7680a2999f9155324fd7e0d4c1125a","claim":"Beneficient: Filed certificate of designation for Series B-3 Preferred Stock, designating rights, preferences, privileges, and restrictions (effective 2024-01-31).","evidence_excerpt":"On January 31, 2024, the Company filed a certificate of designation (the “B-3 Certificate of Designation”) with the Secretary of State of Nevada, effective as of the time of filing, designating the rights, preferences, privileges and restrictions of the shares of the Series B-3 Preferred Stock.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1775734/000119312524025322/0001193125-24-025322-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"},{"label":"Effective","value":"2024-01-31"}],"fact_type":"governance_change"},{"claim_id":"c6e5bfae099bafea2e8fc705323d95270e409451","claim":"Beneficient: Filed certificate of designation for Series B-2 Preferred Stock, designating rights, preferences, privileges, and restrictions (effective 2024-01-31).","evidence_excerpt":"On January 31, 2024, the Company filed a certificate of designation (the “B-2 Certificate of Designation”) with the Secretary of State of Nevada, effective as of the time of filing, designating the rights, preferences, privileges and restrictions of the shares of the Series B-2 Preferred Stock.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1775734/000119312524025322/0001193125-24-025322-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"},{"label":"Effective","value":"2024-01-31"}],"fact_type":"governance_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}