other material
confidence high
sentiment positive
materiality 0.40
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.