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.

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Beneficient issued 101,294,288 shares of Class A Common Stock of common stock to certain holders of Preferred Series A Subclass 1 Unit Accounts for converted $52.6 million of such Preferred A-1 Unit Accounts.

Security: common stock
Shares: 101,294,288 shares of Class A Common Stock
Purchaser: certain holders of Preferred Series A Subclass 1 Unit Accounts
Consideration: converted $52.6 million of such Preferred A-1 Unit Accounts

Exact text from the filing

On October 15, 2025, certain holders of Preferred Series A Subclass 1 Unit Accounts (“Preferred A-1 Unit Accounts”) of Beneficient Company Holdings, L.P. (“BCH”), a subsidiary of Beneficient (the “Company”), that were issued prior to the Company’s initial listing on The Nasdaq Stock Market, LLC, elected to convert $52.6 million of such Preferred A-1 Unit Accounts for Class S Ordinary Units of BCH, which were subsequently contemporaneously exchanged for shares of Class A common stock, par value $0.001 per share, of the Company (the “Class A Common Stock”) (such transaction, the “Limited Conversion”). The Limited Conversion resulted in the issuance of 101,294,288 shares of Class A Common Stock

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Beneficient filing history →

Source: SEC EDGAR

accession 0001493152-25-018825

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