{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-24-080758","form_type":"8-K","ticker":"BENF","cik":"0001775734","company_name":"Beneficient","filed_at":"2024-03-28T23:59:59+00:00","discovered_at":"2026-05-14T18:03:25.484892+00:00","generated_at":"2026-06-04T06:22:13.288167+00:00","sec_items":["3.01","3.02","5.03","3.03","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Beneficient faces Nasdaq delisting, issues convertible preferred and common shares to consultants","bullets":["Nasdaq Staff determined to delist under Low Priced Stocks Rule after closing bid ≤$0.10 for 10 consecutive days.","Company plans to appeal; hearing stays delisting pending outcome; no assurance of continued listing.","Stockholders approved reverse stock split (1:10 to 1:100) to potentially regain compliance.","Issued 6,932 shares of Series B-4 Convertible Preferred (convertible at $0.0673, floor $0.03365) for advisory services.","Issued 3,920,208 shares of Class A common stock to a consultant for customer referral services under Section 4(a)(2)."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-24-080758","json":"https://secwatch.observer/filing/0001193125-24-080758.json","markdown":"https://secwatch.observer/filing/0001193125-24-080758.md","text":"https://secwatch.observer/filing/0001193125-24-080758.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1775734/000119312524080758/0001193125-24-080758-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1775734/000119312524080758/d816554d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T06:22:13.288167+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":"ffac10c4ded0aab3a251015b92fd5d0feb3827bd","claim":"Beneficient received a nasdaq delisting notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A)(iii)).","evidence_excerpt":"March 22, 2024, the Company received a letter from Nasdaq advising that the Nasdaq Staff (the “Staff”) had determined that, as of March 21, 2024, the Company’s Class A Common Stock had a closing bid price of $0.10 or less for at least ten consecutive trading days. Accordingly, the Company is subject to the provisions contemplated under Listing Rule 5810(c)(3)(A)(iii) (the “Low Priced Stocks Rule”). As a result, the Staff determined to delist the Company’s securities from The Nasdaq Capital Market (the “Staff Determination”), unless the Company timely requests a hearing before the Nasdaq Hearin","evidence_source":"SEC 8-K Item 3.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1775734/000119312524080758/0001193125-24-080758-index.htm","confidence":0.9,"family_label":"Listing & Compliance Notices","details":[{"label":"Exchange","value":"nasdaq"},{"label":"Notice","value":"delisting notice"},{"label":"Deficiency","value":"minimum bid price"},{"label":"Rules","value":"5450(a)(1), 5810(c)(3)(A)(iii)"}],"fact_type":"exchange_compliance_notice"},{"claim_id":"5fc477d9267a4139546bb217d5716548bb0c59ba","claim":"Beneficient: Filed a certificate of designation creating Series B-4 Preferred Stock (effective 2024-03-27).","evidence_excerpt":"On March 27, 2024, the Company filed a certificate of designation (the “B-4 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-4 Preferred Stock.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1775734/000119312524080758/0001193125-24-080758-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"},{"label":"Effective","value":"2024-03-27"}],"fact_type":"governance_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}