---
schema_version: "secwatch.filing_event.v1"
accession: "0001641172-25-016351"
form_type: "8-K"
ticker: "BENF"
cik: "0001775734"
company_name: "Beneficient"
filed_at: "2025-06-25T23:59:59+00:00"
generated_at: "2026-05-18T19:43:40.144850+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001641172-25-016351
- form_type: 8-K
- ticker: BENF
- cik: 0001775734
- company_name: Beneficient
- filed_at: 2025-06-25T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- 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/1775734/000164117225016351/0001641172-25-016351-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1775734/000164117225016351/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-016351
- JSON: https://secwatch.observer/filing/0001641172-25-016351.json
- Plain text: https://secwatch.observer/filing/0001641172-25-016351.txt

## Key facts
- Governance Changes
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1775734/000164117225016351/0001641172-25-016351-index.htm

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