secwatch.observer — SEC 8-K summary
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Issuer:     Beneficient (BENF)
CIK:        0001775734
Form:       8-K
Filed at:   2024-02-06T23:59:59+00:00
Accession:  0001193125-24-025322
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 3.02, 5.03, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Beneficient issues convertible preferred stock in two private placements
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1775734/000119312524025322/0001193125-24-025322-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1775734/000119312524025322/d72720d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-025322

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