{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-26-032323","form_type":"8-K","ticker":"BENF","cik":"0001775734","company_name":"Beneficient","filed_at":"2026-07-07T20:15:18+00:00","discovered_at":"2026-07-07T20:16:00.298907+00:00","generated_at":"2026-07-07T20:16:08.681430+00:00","sec_items":["2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Beneficient issues $2M convertible promissory note to Yorkville under amended SEPA","bullets":["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%."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-032323","json":"https://secwatch.observer/filing/0001493152-26-032323.json","markdown":"https://secwatch.observer/filing/0001493152-26-032323.md","text":"https://secwatch.observer/filing/0001493152-26-032323.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1775734/000149315226032323/0001493152-26-032323-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1775734/000149315226032323/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-07-07T20:16:08.681430+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}