Beneficient Q3 revenues $4.4M; permanent equity positive $14.3M; proposes BCH restructuring and Mercantile Bank buy

Beneficient

Q3 revenues $4.4M, up from $(10.2)M prior year; operating expenses (ex-gw impairment) down 38% to $13.9M.
Permanent equity turned positive $14.3M from deficit $148.3M via redesignation of $160.5M temporary equity.
Proposed BCH restructuring adds $9.2M tangible book value to public stockholders; pro forma shares 8.4M.
Agreement to acquire Mercantile Bank for $1.5M to expand digital asset and custody services.
Closed first primary capital transaction of $1.4M on Dec 31, 2024.

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