Beneficient Consummates Transaction to Increase Permanent Equity by $126 Million
2024年10月4日 - 8:00PM
Beneficient (NASDAQ: BENF) (“Ben” or the
“Company”), a technology-enabled financial services
holding company announces that its subsidiary Beneficient Company
Holdings, L.P. consummated a previously announced transaction
pursuant to which approximately $126 million of its preferred
equity was redesignated as non-redeemable. As a result of the
transaction, which was approved by the Company’s founders holding
the majority of the preferred equity, Beneficient expects
approximately $126 million of temporary equity to be reclassified
to permanent equity on its balance sheet as of September 30, 2024.
About Beneficient
Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to
democratize the global alternative asset investment market by
providing traditionally underserved investors − mid-to-high net
worth individuals, small-to-midsized institutions and General
Partners seeking exit options, anchor commitments and valued-added
services for their funds− with solutions that could help them
unlock the value in their alternative assets. Ben’s AltQuote™ tool
provides customers with a range of potential exit options within
minutes, while customers can log on to the AltAccess® portal to
explore opportunities and receive proposals in a secure online
environment.
Its subsidiary, Beneficient Fiduciary Financial, L.L.C.,
received its charter under the State of Kansas’ Technology-Enabled
Fiduciary Financial Institution (TEFFI) Act and is subject to
regulatory oversight by the Office of the State Bank
Commissioner.
For more information, visit www.trustben.com or follow us on
LinkedIn.
Investors
investors@beneficient.com
Contacts
Matt Kreps: 214-597-8200, mkreps@darrowir.comMichael
Wetherington: 214-284-1199, mwetherington@darrowir.comInvestor
Relations: investors@beneficient.com
Disclaimer and Cautionary Note Regarding Forward-Looking
Statements
Certain of the statements contained in this press release are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements can be generally identified by the use of words such as
“anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,”
“may,” “plan,” “potential,” “predict,” “project,” “should,”
“target,” “will,” “would,” and, in each case, their negative or
other various or comparable terminology. These forward-looking
statements reflect our views with respect to future events as of
the date of this document and are based on our management’s current
expectations, estimates, forecasts, projections, assumptions,
beliefs and information. Although management believes that the
expectations reflected in these forward-looking statements are
reasonable, it can give no assurance that these expectations will
prove to have been correct. All such forward-looking statements are
subject to risks and uncertainties, many of which are outside of
our control, and could cause future events or results to be
materially different from those stated or implied in this document.
It is not possible to predict or identify all such risks. These
risks include, but are not limited to, the risk factors that are
described under the section titled “Risk Factors” in our Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q, Current
Reports on Form 8-K, and other filings with the Securities and
Exchange Commission (the “SEC”). These factors should not be
construed as exhaustive and should be read in conjunction with the
other cautionary statements that are included in this document and
in our SEC filings. We expressly disclaim any obligation to
publicly update or review any forward-looking statements, whether
as a result of new information, future developments or otherwise,
except as required by applicable law.
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