---
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"
generated_at: "2026-06-04T06:22:13.288167+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Beneficient faces Nasdaq delisting, issues convertible preferred and common shares to consultants

## Summary
- 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).

## SEC filing metadata
- accession: 0001193125-24-080758
- form_type: 8-K
- ticker: BENF
- cik: 0001775734
- company_name: Beneficient
- filed_at: 2024-03-28T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 3.01, 3.02, 5.03, 3.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-080758
- JSON: https://secwatch.observer/filing/0001193125-24-080758.json
- Plain text: https://secwatch.observer/filing/0001193125-24-080758.txt

## Key facts
- Listing & Compliance Notices
  Beneficient received a nasdaq delisting notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A)(iii)).
  - Exchange: nasdaq
  - Notice: delisting notice
  - Deficiency: minimum bid price
  - Rules: 5450(a)(1), 5810(c)(3)(A)(iii)
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1775734/000119312524080758/0001193125-24-080758-index.htm
- Governance Changes
  Beneficient: Filed a certificate of designation creating Series B-4 Preferred Stock (effective 2024-03-27).
  - Change: charter amendment
  - Effective: 2024-03-27
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1775734/000119312524080758/0001193125-24-080758-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.