Highest-materiality recent filing
Beneficient closes $8.75M primary capital commitment in Quartus AI Fund LP
Issued 875,214 shares of Series B-10 Preferred Stock, convertible at $3.5479/share with a floor of $1.2418.
Stockholders approve LTIP amendment increasing share reserve by 1M shares plus 15% of outstanding
Amendment adds 1,000,000 shares plus 15% of outstanding shares to the 2023 LTIP pool.
Mack Hicks appointed to board effective March 10, 2026; CEO of Hicks Holdings, a family office.
GAAP operating income of $3.9M vs loss of $17.9M prior quarter; revenue $18.7M.
Court approves GWG litigation settlement; claims against Beneficient resolved
District Court approved settlement of all GWG-related claims against Beneficient and its directors/officers.
Beneficient repays ~$27.5M in debt early; still owes $1.66M in deferred interest
Completed repayment of ~$27.5M aggregate principal to Texas state bank and Hicks Holdings ~10 months early.
Beneficient closes $3M GP primary capital transaction, issues Series B-9 convertible preferred stock
Transaction funded Jan 5, 2026; customer received 302,273 Series B-9 Preferred Stock for NAV of $3,022,728.
Beneficient regains full Nasdaq compliance after bid price and warrants deficiency resolved
Nasdaq notified Beneficient on Jan 2, 2026, that it regained compliance with Listing Rule 5550(a)(2) (bid price) and 5560(a) (warrants).
Beneficient appoints Peter T. Cangany Jr. as Chairman of the Board effective Dec 15, 2025
Peter T. Cangany Jr. appointed Chairman of the Board, effective December 15, 2025.
Beneficient announces 1-for-8 reverse stock split effective Dec 15 to regain Nasdaq compliance
1-for-8 reverse stock split of Class A and Class B common stock effective December 15, 2025.
Beneficient announces death of Chairman Thomas O. Hicks at age 79
Thomas O. Hicks passed away on December 6, 2025, at age 79; he was Chairman since July 2025.
Beneficient shareholders approve reverse stock split authorization at special meeting
Proposal 1 approved with ~104.35M votes for, 590K against, 15.8K abstain; ratio range 1:5 to 1:100 set by board.
Beneficient Q2 GAAP revenue $(2.8M), operating loss $(17.9M); insiders convert $52.6M preferred
GAAP revenue negative $(2.8M) vs positive $8.6M in prior year; diluted EPS $(0.37) vs $0.03.
Beneficient discloses indictment of former CEO Brad Heppner by SDNY
United States Attorney for SDNY indicted former Chairman and CEO Brad Heppner on November 5, 2025.
Beneficient regains compliance with two Nasdaq rules, but remains noncompliant on bid price
Nasdaq notified Beneficient on Oct 29, 2025 that it regained compliance with periodic filing and $35M MVLS requirements.
Beneficient Chairman and Interim CEO Convert $52.6M in Preferred Units for 101.3M Class A Shares
Chairman Hicks converted $48M for 92.5M shares; CEO Silk converted $4.6M for 8.8M shares; total 101.3M shares issued.
Beneficient Q1 fiscal 2026 GAAP operating loss of $92.6M; revenue negative $12.6M
GAAP revenue negative $12.6M (prior year $10.0M); GAAP operating loss $92.6M vs income $44.3M YoY.
Beneficient receives Nasdaq delisting notice for negative stockholders' equity of $34.9M
Nasdaq notified Beneficient on Oct 3, 2025 of non-compliance with Listing Rule 5550(b)(1) due to stockholders' equity of ($34,925,000) as of March 31, 2025.
Beneficient reports fiscal 2025 Q4 negative revenue $31.0M, operating loss $45.3M
Q4 GAAP revenue negative $31.0M, adjusted operating loss $42.9M; basic EPS $8.51, diluted $0.06.
Beneficient (BENF) gets Nasdaq extension to file delinquent reports and regain bid price compliance
Panel granted extension by letter dated Sept 9, 2025; hearing held Aug 26.
Beneficient receives additional Nasdaq delisting notice for late Q1 10-Q filing
Nasdaq notified Beneficient on August 18, 2025 of non-compliance with Listing Rule 5250(c)(1) for delayed Q1 FY2026 10-Q filing.
HCLP declared defaults on First Lien and Second Lien Credit Agreements; $94.4M principal and $20.8M interest accelerated as of July 30, 2025.
Beneficient appoints James Silk as interim CEO, Thomas Hicks as Chairman
James G. Silk appointed interim CEO effective July 20, 2025; base salary $750,000, eligible for equity awards.
Beneficient receives Nasdaq delisting notice for bid price non-compliance and delinquent 10-K
Nasdaq notified Beneficient on July 16, 2025 that securities are subject to delisting due to bid price below $1.00 for over 180 days and failure to file FY2025 10-K.
Exchanged $1,910,370 limited partner interest in Mendoza Ventures Growth Fund III for 191,037 Series B-8 convertible preferred shares.
Beneficient CEO/Chairman Brad Heppner resigns amid audit interview dispute
Brad Heppner resigned as CEO and director effective June 19, 2025, after refusing a formal interview about documents provided to auditors in 2019.
Bankruptcy Court approved settlement resolving all GWG-related claims against Beneficient, subsidiaries, and current/former directors and officers.
Sellers terminate Beneficient's agreement to acquire Mercantile Bank International
Sellers delivered notice on June 3, 2025, terminating the Purchase Agreement effective immediately.
Beneficient holds 2025 annual meeting; elects seven directors and ratifies auditor
Votes represented 5,509,937 shares (~51% of total voting power) as of Feb 28, 2025 record date.
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.
Beneficient closes $9.6M GP primary capital transaction, issues Series B-6 convertible preferred
Closed $9.6M primary capital transaction for Pulse Pioneer Fund; received LP interest in exchange for 965,576 Series B-6 preferred shares.
Binding settlement of all GWG Litigation claims against Beneficient and its directors/officers, including CEO; no admission of liability.
Beneficient schedules 2025 annual meeting for March 31; record date Feb 28
Board set annual meeting date as March 31, 2025.
Q3 revenues $4.4M, up from $(10.2)M prior year; operating expenses (ex-gw impairment) down 38% to $13.9M.
Beneficient furnishes investor presentation for Sequire summit; no material updates
Presentation attached as Exhibit 99.1 for use at Sequire Investor Summit on January 22, 2025.
Beneficient receives Nasdaq delisting notice for bid price below $1.00; 180 days to comply
Nasdaq notified Beneficient on Jan 13, 2025 that its common stock bid price was below $1.00 for 30 consecutive business days.
Beneficient closes $1.36M GP primary capital transaction; issues convertible preferred stock
Closed $1.36M primary commitment for 8F Fund LP, an aquaculture fund managed by 8F Asset Management.
Beneficient restructuring grants public stockholders 33.3% of up to $5B in alternative asset value
Public stockholders get 10% of first $100M and 33.3% of up to $5B of alternative assets in subsidiary liquidation.
Beneficient agrees to acquire Mercantile Bank International for $1.5M in stock/cash
Purchase price of $1.5M payable in up to 2.1M shares of Class A common stock and cash.
Beneficient furnishes investor presentation for Emerging Growth Conference on Dec 4
Filing discloses use of an investor presentation at the Emerging Growth Conference on December 4, 2024.
Beneficient regains Nasdaq compliance on stockholders' equity and audit committee requirements
Nasdaq confirmed compliance with minimum stockholders' equity (Rule 5550(b)(1)) and audit committee (Rule 5605(c)(2)).
Beneficient converts $35M preferred to permanent equity, believes it regains Nasdaq compliance
Converted $35M of Preferred A-0 Redeemable Accounts to non-redeemable permanent equity.
Beneficient reports Q2 fiscal 2025 GAAP net income; revenue $8.6M vs $(42.8M) prior year
Second consecutive GAAP net income quarter; basic EPS $2.98, diluted EPS $0.03.
Beneficient furnishes investor presentation for LD Micro Main Event conference
Company provided a presentation for the LD Micro Main Event XVII conference on October 30, 2024.
Beneficient reclassifies $126M to permanent equity, appoints Patrick Donegan to board
Appointed Patrick J. Donegan as independent director, effective Sept 30, 2024; serves on Audit, Credit, Risk, and Related Party committees.
Beneficient terminates forward purchase deal, boosts authorized shares to 5B
Terminated Forward Purchase Agreement with RiverNorth; ~23,651 unsold Class A shares returned to company.
Beneficient sells 150,000 shares at $1.58 to director-affiliated entity in private placement
Entered subscription agreement with Cangany Capital Management (controlled by director Peter T. Cangany Jr.) to sell 150,000 shares of Class A common stock at $1.58 per share.
Filed plan with Nasdaq Staff on Aug 30 to regain compliance with minimum stockholders' equity requirement of $2.5M.
Beneficient raises $325k via private placement of 165k shares to board members at $1.97/share
Board members and affiliates purchased 165k shares of Class A common stock at $1.97 per share, raising ~$325k.
Beneficient amends credit agreement, adds $1.68M loan, waives defaults; director buys shares
Amendment adds $1,675,000 fully drawn term loan from HH-BDH LLC (affiliate of director Thomas O. Hicks); waives payment, naming, and reporting defaults.
On November 21, 2024, the board of directors (the “Board”) of the Company appointed Karen Wendel to serve as a director of the Company, effective November 21, 2024.
On September 30, 2024, the board of directors (the “Board”) of the Company appointed Patrick J. Donegan to serve as a director of the Company, effective September 30, 2024.
On July 19, 2024, Emily B. Hill delivered notice of resignation as a member of the Board and the Audit Committee effective September 30, 2024 (the "Hill Resignation").
Also on July 19, 2024, Dennis P. Lockhart resigned as a member of the Board and the Audit Committee effective immediately (the "Lockhart Resignation" and together with the Hill Resignation, the "Resignations").
On April 29, 2024, James G. Silk resigned as a member of the Board of Directors (the “Board”) of Beneficient (the “Company” or “Ben”) and from his role as Executive Vice President and Chief Legal Officer of the Company effective May 10, 2024.
Max materiality 0.90 · Median 0.65 · Most common event other_material