Beneficient Faces Delisting Concerns
Ticker: BENFW · Form: 8-K · Filed: Sep 5, 2024 · CIK: 1775734
Sentiment: bearish
Topics: delisting, listing-standards
Related Tickers: BENF
TL;DR
BENF might get delisted, stock could be toast.
AI Summary
Beneficient, Inc. filed an 8-K on September 5, 2024, reporting a notice of delisting or failure to meet continued listing standards as of August 30, 2024. The company, incorporated in Nevada with its principal office in Dallas, TX, previously operated under the name Beneficient Co Group, L.P. before a name change on May 3, 2019.
Why It Matters
This filing indicates potential issues with Beneficient's ability to remain listed on its exchange, which could significantly impact its stock liquidity and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet continued listing standards directly threatens the company's public trading status.
Key Players & Entities
- Beneficient (company) — Registrant
- Beneficient Co Group, L.P. (company) — Former Company Name
- August 30, 2024 (date) — Earliest event reported
- September 5, 2024 (date) — Filing Date
- Nevada (jurisdiction) — State of Incorporation
- Dallas, TX (location) — Business Address
FAQ
What specific listing rule or standard has Beneficient failed to meet?
The filing does not specify the exact rule or standard that Beneficient has failed to meet, only that a notice has been issued.
What is the date of the earliest event reported in this 8-K?
The earliest event reported is August 30, 2024.
When was Beneficient's name changed?
Beneficient's name was changed from Beneficient Co Group, L.P. on May 3, 2019.
Where is Beneficient incorporated and headquartered?
Beneficient is incorporated in Nevada and its business address is in Dallas, TX.
What is the Commission File Number for Beneficient?
Beneficient's Commission File Number is 001-41715.
Filing Stats: 1,214 words · 5 min read · ~4 pages · Grade level 15.6 · Accepted 2024-09-05 17:10:17
Key Financial Figures
- $0.001 — ares of Class A common stock, par value $0.001 per share BENF The Nasdaq Stock Mar
- $2,500,000 — intain stockholders' equity of at least $2,500,000 or meet the alternative compliance stan
- $125.5 million — ment, the Company expects approximately $125.5 million of temporary equity to be reclassified
Filing Documents
- form8-k.htm (8-K) — 48KB
- 0001493152-24-035181.txt ( ) — 268KB
- benf-20240830.xsd (EX-101.SCH) — 4KB
- benf-20240830_def.xml (EX-101.DEF) — 26KB
- benf-20240830_lab.xml (EX-101.LAB) — 37KB
- benf-20240830_pre.xml (EX-101.PRE) — 25KB
- form8-k_htm.xml (XML) — 6KB
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/ Gregory W. Ezell Name: Gregory W. Ezell Title: Chief Financial Officer Dated: September 5, 2024