Beneficient Enters into Private Placement of $4.0 Million in Convertible Debentures and Warrants Priced At-The-Market under Nasdaq Rules

Dallas, TX. – August 7, 2024 (GlobeNewswire) – Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a technology-enabled financial services holding company that provides liquidity, primary capital solutions and related trust and custody services to holders of alternative assets, today announced that it has entered into a securities purchase agreement (the “Securities Purchase Agreement”) with YA II PN, LTD (“Yorkville”), pursuant to which the Company agreed to issue and sell to Yorkville, convertible debentures in an aggregate principal amount of up to $4,000,000 (the “Convertible Debentures”) and warrants (the “Warrants”) to purchase up to 1,325,382 shares of the Company’s Class A common stock, par value $0.001 per share (the “Common Stock”), at an exercise price of $2.63. The Company issued $2,000,000 in aggregate principal amount of Convertible Debentures and Warrants to purchase up to 662,691 shares of Common Stock upon signing of the Securities Purchase Agreement, and the Company will issue the additional Convertible Debentures and Warrants on or before the first business day after the date the registration statement with the Securities and Exchange Commission (the “SEC”) registering the resale of the Common Stock underlying the Convertible Debentures and Warrants is declared effective by the SEC. The Convertible Debentures do not bear interest, subject to a potential increase to 18.0% per annum upon the occurrence of certain events of default, mature on February 6, 2024, and may be redeemed at a premium any time prior to maturity at the Company’s election, subject to conditions. The Convertible Debentures will be issued at an original issue discount of 10%.

The Company intends to use proceeds from the transaction for general corporate purposes.   

Beneficient Announces Rescheduled Fourth Quarter and Full Year Fiscal 2024 Earnings Release and Webcast

PRESS RELEASE – Dallas, TX. – July 5, 2024 (GlobeNewswire) – Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a technology-enabled platform providing exit opportunities and primary capital solutions and related trust and custody services to holders of alternative assets through its proprietary online platform, AltAccess, announced that it will release its Fourth Quarter and Full Year Fiscal 2024 financial results before market open on Tuesday, July 9, 2024. Beneficient will host a webcast to present the results on Tuesday, July 9, 2024 at 8:30 a.m. Eastern Daylight Time.

Beneficient Announces Termination of SEC Investigation

PRESS RELEASE – Dallas, TX. – July 2, 2024 (GlobeNewswire) – Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a technology-enabled financial services holding company that provides liquidity, primary capital and related trust and custody services to holders of alternative asset, announced today the Securities and Exchange Commission (the “SEC”) has issued termination letters to the Company and its founder, Chairman and Chief Executive Officer, Mr. Brad Heppner, advising that the SEC has concluded the investigation and does not intend to recommend an enforcement action by the SEC under the previously issued Wells Notices. 

Beneficient Regains Compliance with Nasdaq Minimum Bid Price Rule

PRESS RELEASE – DALLAS – May 3, 2024 – Beneficient (the “Company”) (Nasdaq: BENF), a technology-enabled platform providing liquidity and related trust and custody services to holders of alternative assets through its proprietary online platform, AltAccess, today announced that it has received notice from The Nasdaq Stock Market LLC (“Nasdaq”) that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). The notice confirmed that the Company’s securities will continue to be listed and traded on Nasdaq.

Beneficient Responds to Claims Made by GWG Litigation Trustee

PRESS RELEASE – issued the following statement in response to a complaint filed on April 19, 2024 by the trustee of the GWG Litigation Trust (“Litigation Trustee”): Beneficient is disappointed but not surprised that the Litigation Trustee has decided to file suit against Beneficient, affiliated entities, and its officers and directors. The Litigation Trustee crafted a deliberately selective reading of complex and permissible business transactions, negotiated at arm’s length that spanned many years as GWG Holdings sought to implement its disclosed business strategy to diversify away from its concentrated investment in life insurance policies. Although he was appointed ten months ago to conduct another investigation, the Litigation Trustee’s claims are similar to issues previously asserted in GWG Holdings bankruptcy proceeding, at great expense to the GWG Holdings estate. The market has been aware of the allegations asserted in the GWG Holdings bankruptcy since 2022.

Beneficient to Participate in the Planet MicroCap Showcase on May 1-2, 2024

Beneficient to Participate in the Planet MicroCap Showcase on May 1-2, 2024

PRESS RELEASE – Beneficient (Nasdaq: BENF) (together with its affiliates, “Ben” or the “Company”), a technology-enabled platform focused on providing liquidity and related trust and custody services to holders of alternative assets through its proprietary online portal, AltAccess, today announced that it will present at the Planet MicroCap Showcase: VEGAS 2024 on Wednesday, May 1, 2024 at 2:00 p.m. Pacific Daylight Time.

Beneficient Announces Reverse Stock Split to Regain Compliance with Nasdaq’s Minimum Bid Price

Beneficient Announces Reverse Stock Split to Regain Compliance with Nasdaq’s Minimum Bid Price

PRESS RELEASE – Beneficient today announced a 1-for-80 reverse stock split (the “Reverse Stock Split”) of its Class A common stock, par value $0.001 per share (the “Class A Common Stock”), and its Class B common stock, par value $0.001 per share (“Class B Common Stock” and together with the Class A Common Stock, the “Common Stock”). The Reverse Stock Split was previously approved by Beneficient’s stockholders on March 21, 2024.