---
schema_version: "secwatch.filing_event.v1"
accession: "0001641172-25-006079"
form_type: "8-K"
ticker: "BENF"
cik: "0001775734"
company_name: "Beneficient"
filed_at: "2025-04-25T23:59:59+00:00"
generated_at: "2026-05-23T05:58:02.532766+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001641172-25-006079
- form_type: 8-K
- ticker: BENF
- cik: 0001775734
- company_name: Beneficient
- filed_at: 2025-04-25T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 3.02, 5.03, 3.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1775734/000164117225006079/0001641172-25-006079-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1775734/000164117225006079/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-006079
- JSON: https://secwatch.observer/filing/0001641172-25-006079.json
- Plain text: https://secwatch.observer/filing/0001641172-25-006079.txt

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