Beneficient closes $9.6M GP primary capital transaction, issues Series B-6 convertible preferred

Beneficient

Closed $9.6M primary capital transaction for Pulse Pioneer Fund; received LP interest in exchange for 965,576 Series B-6 preferred shares.
Series B-6 preferred convertible at $0.3151/share, monthly resets to VWAP with floor $0.2363; max 40,862,294 Class A shares issuable.
Transaction expected to add ~$1.28M (aggregate ~$10.46M) of tangible book value upon closing prior stockholder enhancement deals.
Collateral for ExAlt loan portfolio expected to increase by ~$9.6M from acquired alternative asset interests; first GP Primary of fiscal year.

item 3.02 item 5.03 item 3.03 item 7.01 item 9.01

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Beneficient: Filed certificate of designation for Series B-6 Preferred Stock, establishing rights, preferences, and restrictions (effective 2025-04-04).

Change: charter amendment
Effective: 2025-04-04

Exact text from the filing

On April 4, 2025, the Company filed a certificate of designation (the “B-6 Certificate of Designation”) with the Secretary of State of Nevada, effective as of the time of filing, designating the rights, preferences, privileges and restrictions of the shares of the Series B-6 Preferred Stock.

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13 governance changes filed in the last 30 days. Browse all governance changes →

Beneficient filing history →

Source: SEC EDGAR

accession 0001641172-25-002895

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