Beneficient Consummates Transaction to Increase Permanent Equity by $35 Million

DALLAS, Nov. 22, 2024 (GLOBE NEWSWIRE) -- 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 $35 million of its preferred equity was redesignated as non-redeemable, resulting in the addition of approximately $35 million of permanent equity on its balance sheet. As a result of the transaction, the Company believes it now has stockholders’ equity of at least $2.5 million, the amount required to regain compliance with Nasdaq’s Minimum Stockholders’ Equity Requirement. The Company’s compliance with Nasdaq’s Minimum Stockholders’ Equity Requirement is subject to Nasdaq’s final determination.

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