secwatch.observer — SEC 8-K summary
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Issuer:     Beneficient (BENF)
CIK:        0001775734
Form:       8-K
Filed at:   2026-08-11T20:15:40+00:00
Accession:  0001493152-26-037138
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Beneficient draws $1.8M from Yorkville via second convertible promissory note
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- Second $2.0M promissory note issued to Yorkville; gross proceeds ~$1.8M after 5% OID, received Aug 5, 2026.
- Note matures June 30, 2027, bears 5% interest (18% on default), convertible at lower of $5.6064 or 92% of 5-day VWAP.
- Conversion floor price $0.89; max shares issuable 4,719,101 assuming 5% interest through maturity.
- Follows first $2.0M note issued June 30, 2026; total $4.0M principal under A&R SEPA.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1775734/000149315226037138/0001493152-26-037138-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1775734/000149315226037138/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-037138

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