Beneficient Chairman and Interim CEO Convert $52.6M in Preferred Units for 101.3M Class A Shares

Beneficient

Chairman Hicks converted $48M for 92.5M shares; CEO Silk converted $4.6M for 8.8M shares; total 101.3M shares issued.
Conversion shares locked up until Oct 1, 2028; insiders forfeit appreciation to avoid near-term market dilution.
Conversion addresses Nasdaq minimum equity deficiency; company now seeks compliance via market value of listed securities (MVLS).
Insiders gave up liquidation preference, preferred return, and other senior rights, becoming common-equity aligned.

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