Beneficient issues $2M convertible promissory note to Yorkville under amended SEPA

Beneficient

Issued $2M promissory note (first tranche) to YA II PN, Ltd. (Yorkville) with 5% OID, net proceeds ~$1.8M.
Note matures June 30, 2027; interest 5% (18% on default); convertible at lower of $5.6064 or 92% of 5-day VWAP, floor $0.89.
Amended SEPA reduces equity line from $250M to $100M; second $2M note tranche due after SEC declares registration effective.
Maximum shares issuable upon conversion of notes is 4,719,101; ownership limitation 4.99%.

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