Beneficient terminates forward purchase deal, boosts authorized shares to 5B

Beneficient

Terminated Forward Purchase Agreement with RiverNorth; ~23,651 unsold Class A shares returned to company.
Stockholders approved amendment increasing authorized Class A common stock from 18.75M to 5B.
Special Meeting on Oct 2, 2024 had 55.01% voting power represented; Proposal 1 passed with 3,603,437 for and 32,277 against.
Class B common stockholders also approved the amendment by written consent before the meeting.
No other matters were voted on at the special meeting.

Key facts

Extracted from this filing and checked against the source text.

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

Beneficient: Increased authorized shares of Class A common stock from 18,750,000 to 5,000,000,000 (effective 2024-10-02).

Change: charter amendment
Effective: 2024-10-02

Exact text from the filing

On October 2, 2024, the Company filed a Certificate of Amendment (the “Certificate of Amendment”) to the Company’s Articles of Incorporation (the “Articles of Incorporation”) with the Secretary of State of the State of Nevada to increase the number of authorized shares of Class A common stock from 18,750,000 to 5,000,000,000.

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13 governance changes filed in the last 30 days. Browse all governance changes →

Beneficient filing history →

Source: SEC EDGAR

accession 0001493152-24-039514

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