Beneficient agrees to acquire Mercantile Bank International for $1.5M in stock/cash

Beneficient

Purchase price of $1.5M payable in up to 2.1M shares of Class A common stock and cash.
Mercantile Bank is a Puerto Rico IFE licensed to offer custody, clearing, and digital services.
Acquisition positions Ben to expand alternative asset custody services to large institutions, ATS, and foreign exchanges.
Companion custody/depositary receipt business expected to generate fee revenue and cash flow in 2025.
Closing subject to OCIF approval, anticipated in Q2 2025.

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