GWG Wind Down Trust Amends Beneficient Stake
Ticker: BENFW · Form: SC 13D/A · Filed: Apr 4, 2024 · CIK: 1775734
| Field | Detail |
|---|---|
| Company | Beneficient (BENFW) |
| Form Type | SC 13D/A |
| Filed Date | Apr 4, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: ownership-change, sec-filing, schedule-13d
TL;DR
GWG Wind Down Trust just updated its Beneficient holdings on 4/4/24. Big move.
AI Summary
On April 4, 2024, the GWG Wind Down Trust, through Elizabeth C. Freeman, filed an amendment to its Schedule 13D regarding Beneficient. The filing indicates a change in beneficial ownership, with the Trust now holding a significant stake in the company's Class A Common Stock.
Why It Matters
This filing signals a potential shift in control or influence for Beneficient, as a major trust adjusts its holdings in the company's common stock.
Risk Assessment
Risk Level: medium — Changes in beneficial ownership by significant trusts can indicate strategic shifts or financial pressures, impacting the company's stock performance.
Key Players & Entities
- GWG Wind Down Trust (company) — Filing entity
- Elizabeth C. Freeman (person) — Trustee and authorized contact
- Beneficient (company) — Subject company
- Class A Common Stock (security) — Securities held
FAQ
What specific change in beneficial ownership is reported in this Amendment No. 4?
The filing does not specify the exact percentage or number of shares acquired or disposed of in this amendment, but it indicates a change in beneficial ownership of Beneficient's Class A Common Stock by the GWG Wind Down Trust.
Who is filing this amendment and on behalf of whom?
The amendment is filed by the GWG Wind Down Trust, with Elizabeth C. Freeman acting as the Sole Trustee and the person authorized to receive notices.
What is the CUSIP number for Beneficient's Class A Common Stock?
The CUSIP number for Beneficient's Class A Common Stock is 08178Q101.
When was the previous name change for Beneficient?
Beneficient's former company name, Beneficient Co Group, L.P., was changed on May 3, 2019.
What is the business address of Beneficient?
Beneficient's business address is 325 N. Saint Paul Street, Suite 4850, Dallas, TX 75201.
Filing Stats: 1,259 words · 5 min read · ~4 pages · Grade level 9.2 · Accepted 2024-04-04 09:01:27
Key Financial Figures
- $0.001 — (Name of Issuer) Class A Common Stock, $0.001 par value (Title of Class of Securiti
Filing Documents
- ea0203304-13da4gwg_benefi.htm (SC 13D/A) — 51KB
- 0001213900-24-030081.txt ( ) — 52KB
Interest in Securities of the Issuer
Item 5 Interest in Securities of the Issuer
is hereby amended and restated in its entirety as follows
Item 5 is hereby amended and restated in its entirety as follows: (a) and (b) The responses of each of the Reporting Persons with respect to Rows 11, 12, and 13 of the cover pages of this Amendment No. 4 that relate to the aggregate number and percentage of Common Stock of the Issuer are incorporated herein by reference. The responses of each of the Reporting Persons with respect to Rows 7, 8, 9, and 10 of the cover pages of this Amendment No. 4 that relate to the number of shares of Common Stock as to which each of the persons or entities referenced in Item 2 above has sole or shared power to vote or to direct the vote of and sole or shared power to dispose of or to direct the disposition of (including but not limited to footnotes to such information) are incorporated herein by reference. As of March 28, 2024, GWG Wind Down Trust was the record holder or beneficial owner of 162,649,862 shares of Common Stock in the aggregate, as is the sole trustee of GWG Wind Down Trust, and as such, Ms. Freeman may be deemed to have beneficial ownership of the securities directly held by GWG Wind Down Trust. Ms. Freeman has no pecuniary interest in such shares and disclaims beneficial ownership of such shares. (c) Since the most recent filing of Schedule 13D, GWG Wind Down Trust sold a total of 4,304,555 shares of Common Stock in open market transactions as set forth in Appendix A. Except as set forth in this Amendment No. 4, the Reporting Persons have not effected any transactions with respect to the Common Stock of the Issuer since the most recent filing of Schedule 13D. (d) The beneficiaries of the GWG Wind Down Trust ultimately have the right to receive dividends from, or the proceeds from the sale of such securities. (e) Not applicable. 4 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: April 4, 2024 GWG Wind Down Trust /s/ Elizabeth C.