secwatch.observer — SEC 8-K summary
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Issuer:     Beneficient (BENF)
CIK:        0001775734
Form:       8-K
Filed at:   2025-06-25T23:59:59+00:00
Accession:  0001641172-25-016351
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 3.02, 5.03, 3.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1775734/000164117225016351/0001641172-25-016351-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1775734/000164117225016351/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-016351

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