---
schema_version: "secwatch.filing_event.v1"
accession: "0001641172-25-002895"
form_type: "8-K"
ticker: "BENF"
cik: "0001775734"
company_name: "Beneficient"
filed_at: "2025-04-07T23:59:59+00:00"
generated_at: "2026-05-23T19:48:55.448446+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001641172-25-002895
- form_type: 8-K
- ticker: BENF
- cik: 0001775734
- company_name: Beneficient
- filed_at: 2025-04-07T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 3.02, 5.03, 3.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1775734/000164117225002895/0001641172-25-002895-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1775734/000164117225002895/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-002895
- JSON: https://secwatch.observer/filing/0001641172-25-002895.json
- Plain text: https://secwatch.observer/filing/0001641172-25-002895.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.