Beneficient closes $1.91M GP primary capital transaction, issues Series B-8 convertible preferred stock

Beneficient

Exchanged $1,910,370 limited partner interest in Mendoza Ventures Growth Fund III for 191,037 Series B-8 convertible preferred shares.
Series B-8 Preferred converts into Class A common at an initial price of $0.3397/share; subject to monthly resets with a floor of $0.2548.
Up to 7,497,528 shares of Class A common stock may be issued upon conversion of the Series B-8 Preferred.
Series B-8 Preferred ranks junior to eight existing series of convertible preferred stock and pari passu to common stock.
Transaction is third GP primary of fiscal year 2025 and increases ExAlt loan portfolio collateral by ~$1.91M.

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 Series B-8 Certificate of Designation designating rights, preferences, and restrictions of Series B-8 Preferred Stock (effective 2025-06-17).

Change: charter amendment
Effective: 2025-06-17

Exact text from the filing

On June 17, 2025, the Company filed a certificate of designation (the “B-8 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-8 Preferred Stock.

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Beneficient filing history →

Source: SEC EDGAR

accession 0001641172-25-016351

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