Beneficient to effect 1-for-80 reverse stock split on April 18 to regain Nasdaq compliance

Beneficient

Reverse stock split at ratio 1-for-80 effective April 18, 2024; Nasdaq minimum bid price compliance goal.
Authorized shares reduced: Class A from 1.5B to 18.75M, Class B from 20M to 250K.
Outstanding shares expected to decrease from ~287.9M to ~3.6M post-split.
Trading symbol BENF unchanged; new CUSIP 08178Q309; fractional shares rounded up to full share.

item 1.01 item 3.03 item 5.03 item 7.01 item 9.01

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Beneficient: Reverse stock split at ratio of 1-for-80 and proportionate reduction in authorized shares via Certificate of Change (effective 2024-04-18).

Change: charter amendment
Effective: 2024-04-18

Exact text from the filing

On April 15, 2024, the Company filed a Certificate of Change with the Secretary of State of the State of Nevada to effect the Reverse Stock Split at a ratio of 1-for-80 and a simultaneous proportionate reduction in the authorized shares of each class of Common Stock. The Reverse Stock Split is expected to become effective at 12:01 a.m. Eastern Time on April 18, 2024 (the “Effective Time”).

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Beneficient filing history →

Source: SEC EDGAR

accession 0001193125-24-097050

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