Beneficient submits Nasdaq compliance plan; expects $125.5M equity reclassification to address deficiency

Beneficient

Filed plan with Nasdaq Staff on Aug 30 to regain compliance with minimum stockholders' equity requirement of $2.5M.
Entered letter agreement with affiliates to redesignate 50% of Preferred A-0 Accounts as non-redeemable, reclassifying ~$125.5M to permanent equity.
Redesignation and compliance plan must be completed by Sept 30, 2024.
No assurance Staff will accept the plan or that compliance will be regained.
Company remains at risk of delisting if it fails to satisfy Nasdaq rules.

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