Beneficient Files 8-K: Material Agreements & Security Holder Changes
Ticker: BENFW · Form: 8-K · Filed: Apr 16, 2024 · CIK: 1775734
Sentiment: neutral
Topics: material-agreement, security-holder-rights, corporate-action, warrants
Related Tickers: BENF
TL;DR
BENF filed an 8-K detailing new material agreements and changes to security holder rights.
AI Summary
Beneficient (NASDAQ: BENF) announced on April 11, 2024, that it entered into a material definitive agreement related to warrants. The company also disclosed modifications to security holder rights and amendments to its articles of incorporation or bylaws. This filing also includes financial statements and exhibits.
Why It Matters
This 8-K filing indicates significant corporate actions by Beneficient, including new agreements and changes affecting its security holders, which could impact the company's structure and stock value.
Risk Assessment
Risk Level: medium — The filing involves material definitive agreements and modifications to security holder rights, suggesting potential shifts in the company's financial or operational landscape.
Key Numbers
- 0001193125-24-097050 — Accession Number (Unique identifier for the filing)
- 20240411 — Report Date (Date of the earliest event reported in the filing)
Key Players & Entities
- Beneficient (company) — Registrant
- NASDAQ: BENF (company) — Stock Ticker
- April 11, 2024 (date) — Date of earliest event reported
- Class A common stock (security) — Type of stock
- Series A convertible (security) — Type of convertible security
FAQ
What specific material definitive agreement did Beneficient enter into?
The filing indicates a material definitive agreement related to warrants, each exercisable for one share of Class A common stock and one share of Series A convertible, but the specific terms of the agreement are not detailed in the provided text.
What are the modifications to the rights of security holders?
The filing states there were material modifications to the rights of security holders, but the specific nature of these modifications is not elaborated upon in the provided text.
What amendments were made to Beneficient's articles of incorporation or bylaws?
The filing notes amendments to Beneficient's articles of incorporation or bylaws, but the details of these amendments are not specified in the provided text.
What is the significance of the 'Regulation FD Disclosure' item?
The inclusion of 'Regulation FD Disclosure' suggests that the information being reported may be material non-public information that is being simultaneously disclosed to the public to prevent selective disclosure.
What is the par value of Beneficient's Class A common stock?
The par value of Beneficient's Class A common stock is $0.001 per share.
Filing Stats: 1,947 words · 8 min read · ~6 pages · Grade level 11.1 · Accepted 2024-04-16 08:45:35
Key Financial Figures
- $0.001 — ares of Class A common stock, par value $0.001 per share BENF Nasdaq Stock Market
Filing Documents
- d774956d8k.htm (8-K) — 41KB
- d774956dex31.htm (EX-3.1) — 27KB
- d774956dex101.htm (EX-10.1) — 369KB
- d774956dex102.htm (EX-10.2) — 360KB
- d774956dex991.htm (EX-99.1) — 10KB
- g774956dsp001a.jpg (GRAPHIC) — 16KB
- g774956dsp001b.jpg (GRAPHIC) — 15KB
- g774956dsp002a.jpg (GRAPHIC) — 15KB
- g774956dsp002b.jpg (GRAPHIC) — 11KB
- g774956dsp002c.jpg (GRAPHIC) — 11KB
- g774956g0413031904129.jpg (GRAPHIC) — 3KB
- 0001193125-24-097050.txt ( ) — 1244KB
- ben-20240411.xsd (EX-101.SCH) — 4KB
- ben-20240411_def.xml (EX-101.DEF) — 14KB
- ben-20240411_lab.xml (EX-101.LAB) — 23KB
- ben-20240411_pre.xml (EX-101.PRE) — 15KB
- d774956d8k_htm.xml (XML) — 6KB
Forward-Looking Statements
Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this Current Report on Form 8-K that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the effective date of the Reverse Stock Split and the trading of the Class A Common Stock on a split-adjusted basis. These statements are based on management's current assumptions and are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. For other important factors that could cause actual results to differ materially from the forward-looking statements in this proxy statement, please see the risks and uncertainties identified under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended March 31, 2023, as updated by the Company's Quarterly Report on Form 10-Q for the quarters ended June 30, 2023, September 30, 2023 and December 31, 2023, each of which is available on the Company's Investor Relations website at www.trustben.com and on the Securities and Exchange Commission website at www.sec.gov. All forward-looking statements reflect the Company's beliefs and assumptions only as of the date of this Current Report on Form 8-K. The Company undertakes no obligation to update forward-looking statements to reflect future events or circumstances. Capitalized terms shall have the meanings ascribed to such terms in the Current Report on Form 8-K.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BENEFICIENT By: /s/ James G. Silk Name: James G. Silk Title: Executive Vice President and Chief Legal Officer Dated: April 16, 2024