---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-051222"
form_type: "8-K"
ticker: "BENF"
cik: "0001775734"
company_name: "Beneficient"
filed_at: "2024-12-23T23:59:59+00:00"
generated_at: "2026-05-28T23:43:49.442545+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Beneficient restructuring grants public stockholders 33.3% of up to $5B in alternative asset value

## Summary
- Public stockholders get 10% of first $100M and 33.3% of up to $5B of alternative assets in subsidiary liquidation.
- Founders/CEO Brad Heppner entities to receive 42.67% voting power via Class B Common Stock, subject to shareholder approval.
- Guaranteed payment to preferred A-0 unit accounts waived until Nov 15, 2025, contingent on audit committee going-concern review.
- Subscription agreements with customers like Hatteras create new FLP-4 unit accounts that dilute existing preferred economic rights.
- Closing conditions include stockholder vote on charter amendment to increase authorized Class B shares and Nasdaq approval.

## SEC filing metadata
- accession: 0001493152-24-051222
- form_type: 8-K
- ticker: BENF
- cik: 0001775734
- company_name: Beneficient
- filed_at: 2024-12-23T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1775734/000149315224051222/0001493152-24-051222-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1775734/000149315224051222/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-051222
- JSON: https://secwatch.observer/filing/0001493152-24-051222.json
- Plain text: https://secwatch.observer/filing/0001493152-24-051222.txt

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