---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-033447"
form_type: "8-K"
ticker: "BENF"
cik: "0001775734"
company_name: "Beneficient"
filed_at: "2024-08-21T23:59:59+00:00"
generated_at: "2026-05-31T08:17:21.935672+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Beneficient amends credit agreement, adds $1.68M loan, waives defaults; director buys shares

## Summary
- Amendment adds $1,675,000 fully drawn term loan from HH-BDH LLC (affiliate of director Thomas O. Hicks); waives payment, naming, and reporting defaults.
- Borrower must cure payment defaults by Nov 1, 2024 or two business days after resale registration effective; failure triggers automatic event of default.
- Mandatory prepayments: $200k on each of Sep 7, Oct 7, Nov 7, Dec 7, 2024 and $875k on Dec 31, 2024; plus minimum monthly payments and $4M liquidity covenant.
- Director Peter Cangany's affiliate purchased 47,500 Class A shares at $2.33/share in unregistered offering exempt under Section 4(a)(2).

## SEC filing metadata
- accession: 0001493152-24-033447
- form_type: 8-K
- ticker: BENF
- cik: 0001775734
- company_name: Beneficient
- filed_at: 2024-08-21T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1775734/000149315224033447/0001493152-24-033447-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1775734/000149315224033447/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-033447
- JSON: https://secwatch.observer/filing/0001493152-24-033447.json
- Plain text: https://secwatch.observer/filing/0001493152-24-033447.txt

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