---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-017597"
form_type: "8-K"
ticker: "BENF"
cik: "0001775734"
company_name: "Beneficient"
filed_at: "2025-10-09T23:59:59+00:00"
generated_at: "2026-05-17T04:13:26.875558+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Beneficient receives Nasdaq delisting notice for negative stockholders' equity of $34.9M

## Summary
- Nasdaq notified Beneficient on Oct 3, 2025 of non-compliance with Listing Rule 5550(b)(1) due to stockholders' equity of ($34,925,000) as of March 31, 2025.
- Company already faces outstanding delisting risks for late 10-Q filing (Rule 5250(c)(1)) and bid price below $1 (Rule 5550(a)(2)).
- A Nasdaq hearing panel considered the company's compliance plan on August 26, 2025; new equity deficiency will factor in that decision.
- Beneficient plans to file its June 30, 2025 10-Q and seek stockholder approval for a reverse stock split to regain bid price compliance.
- No assurance the company can timely regain compliance with all Nasdaq listing criteria.

## SEC filing metadata
- accession: 0001493152-25-017597
- form_type: 8-K
- ticker: BENF
- cik: 0001775734
- company_name: Beneficient
- filed_at: 2025-10-09T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 3.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1775734/000149315225017597/0001493152-25-017597-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1775734/000149315225017597/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-017597
- JSON: https://secwatch.observer/filing/0001493152-25-017597.json
- Plain text: https://secwatch.observer/filing/0001493152-25-017597.txt

## Source-grounded claims
- claim_id: 92ef36778d6dfb3ae6718a57e3d0b081b3c89d8f
  claim: Beneficient received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).
  evidence_excerpt: October 3, 2025, Beneficient (the “Company”) was notified by the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) that because the Company’s Form 10-K for the fiscal year ended March 31, 2025 reported a stockholders’ equity of ($34,925,000), the Company was in non-compliance with the minimum stockholders’ equity requirement set forth in Nasdaq Listing Rule 5550(b)(1) (the “Stockholders’ Equity Requirement”), which could also serve as a separate and additional basis for delisting in addition to the matters described below (such letter, the “Additional Determination Le
  evidence_url: https://www.sec.gov/Archives/edgar/data/1775734/000149315225017597/0001493152-25-017597-index.htm

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