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.

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