---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-047273"
form_type: "8-K"
ticker: "BENF"
cik: "0001775734"
company_name: "Beneficient"
filed_at: "2024-11-22T23:59:59+00:00"
generated_at: "2026-05-29T19:51:56.607077+00:00"
event_type: "regulatory"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Beneficient converts $35M preferred to permanent equity, believes it regains Nasdaq compliance

## Summary
- Converted $35M of Preferred A-0 Redeemable Accounts to non-redeemable permanent equity.
- Pro forma stockholders' equity $26.9M as of Sept 30, 2024, above Nasdaq's $2.5M minimum (subject to final determination).
- Raised ~$5.1M via sale of 3.274M shares to Yorkville on Nov 15.
- Appointed Karen Wendel (CEO of TrustChains) as independent director, with options for 100K shares and 207K RSUs.
- Company believes it now meets Minimum Stockholders' Equity Requirement; final Nasdaq decision pending.

## SEC filing metadata
- accession: 0001493152-24-047273
- form_type: 8-K
- ticker: BENF
- cik: 0001775734
- company_name: Beneficient
- filed_at: 2024-11-22T23:59:59+00:00
- event_type: regulatory
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 3.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1775734/000149315224047273/0001493152-24-047273-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1775734/000149315224047273/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-047273
- JSON: https://secwatch.observer/filing/0001493152-24-047273.json
- Plain text: https://secwatch.observer/filing/0001493152-24-047273.txt

## Key facts
- Executive change
  Karen Wendel was appointed as Director at Beneficient.
  - Action: appointed
  - Role: Director
  source text: On November 21, 2024, the board of directors (the “Board”) of the Company appointed Karen Wendel to serve as a director of the Company, effective November 21, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1775734/000149315224047273/0001493152-24-047273-index.htm

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