Beneficient shareholders approve reverse stock split at ratio of 1:10 to 1:100

Beneficient

Proposal 1 (reverse split) passed with 399,526,380 votes for, 56,662 against, and 6,000 abstain.
Proposal 2 (adjournment) passed with 399,544,823 votes for, 30,795 against, and 13,424 abstain.
Special Meeting held March 21, 2024; 88.9% of total voting power represented (227,324,983 shares).
Board retains discretion over exact split ratio, timing, and proportionate reduction in authorized shares.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Beneficient shareholders approved Approve a reverse stock split with respect to the Company’s issued and outstanding shares of Common Stock at a ratio in the range of 1-for-10 to 1-for-100, with the exact ratio to be determined at the discretion of the Board, and a simultaneous proportionate reduction in the authorized shares of eac at the 2024-03-21 meeting.

Proposal: reverse split
Outcome: passed
Meeting: 2024-03-21

Exact text from the filing

Proposal 1: To approve (i) a reverse stock split with respect to the Company’s issued and outstanding shares of Common Stock at a ratio in the range of 1-for-10 to 1-for-100, with the exact ratio to be determined at the discretion of the Board of Directors (the “Board”), and effected at such time and date, if at all, as determined by the Board, and (ii) a simultaneous proportionate reduction in the authorized shares of each class of Common Stock as required by Nevada Revised Statues Section 78.207. FOR AGAINST ABSTAIN 399,526,380 56,662 6,000

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Source: SEC EDGAR

accession 0001193125-24-075255

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