Beneficient closes $233K GP primary capital deal for Cork & Vines Fund I, issues Series B-7 convertible preferred

Beneficient

Closed GP primary capital transaction: acquired LP interest in Cork & Vines Fund I for $233,333 NAV, issued 23,333 Series B-7 Preferred shares.
Series B-7 Preferred convertible into Class A at $0.2979/share, subject to monthly reset (floor $0.2234) and 4.99% beneficial ownership limit.
Collateral backing ExAlt loan portfolio increased by ~$233,333; entered Preferred Liquidity Provider Program with the fund.
Expected to add ~$77,777 tangible book value (aggregate ~$10.54M) upon closing of previously announced Public Stockholder Enhancement Transactions.

item 3.02 item 5.03 item 3.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

Beneficient: Filed certificate of designation for Series B-7 Preferred Stock, setting forth rights, preferences, and restrictions (effective 2025-04-21).

Change: charter amendment
Effective: 2025-04-21

Exact text from the filing

On April 21, 2025, the Company filed a certificate of designation (the "B-7 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-7 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 0001641172-25-006079

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