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.