Beneficient closes $1.36M GP primary capital transaction; issues convertible preferred stock

Beneficient

Closed $1.36M primary commitment for 8F Fund LP, an aquaculture fund managed by 8F Asset Management.
Issued 136,193 shares of Series B-5 Convertible Preferred Stock, convertible into common at $0.6940/share.
Up to 1,962,435 common shares may be issued upon conversion of Series B-5 Preferred Stock.
ExAlt loan portfolio collateral increases by ~$1.36M of alternative asset interests.
Expects ~$450K addition to tangible book value (aggregate ~$10.23M) from Public Stockholder Enhancement Transactions.

item 3.02 item 5.03 item 3.03 item 7.01 item 9.01

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: Filed Certificate of Designation designating Series B-5 Preferred Stock rights, preferences, privileges, and restrictions (effective 2024-12-30).

Change: charter amendment
Effective: 2024-12-30

Exact text from the filing

On December 30, 2024, the Company filed a certificate of designation (the “B-5 Certificate of Designation”) with the Secretary of State of Nevada, effective as of the time of filing, designating the rights, preferences, privileges and restrictions of the shares of the Series B-5 Preferred Stock.

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

Beneficient filing history →

Source: SEC EDGAR

accession 0001493152-25-000368

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