GWG Wind Down Trust Amends Beneficient Stake

TL;DR

GWG Wind Down Trust just updated its 13D on Beneficient, looks like they're still a major player.

AI Summary

On July 16, 2024, the GWG Wind Down Trust, through Elizabeth C. Freeman, filed an amendment to its Schedule 13D regarding Beneficient. This 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 shift in control or influence for Beneficient, potentially impacting its strategic direction and shareholder value.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate shifts in investor sentiment or strategic intentions, requiring further analysis.

Key Players & Entities

• GWG Wind Down Trust (company) — Filing entity
• Elizabeth C. Freeman (person) — Authorized to receive notices for GWG Wind Down Trust
• Beneficient (company) — Subject company

FAQ

Key Financial Figures

• $0.001 — Name of Issuer) Class A Common Stock, $0.001 par value (Title of Class of Securiti

Filing Documents

• ea0209523-13da7gwg_benefi.htm (SC 13D/A) — 66KB
• 0001213900-24-061789.txt ( ) — 68KB

From the Filing

SC 13D/A 1 ea0209523-13da7gwg_benefi.htm AMENDMENT NO. 7 TO SCHEDULE 13D UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 7) Beneficient (Name of Issuer) Class A Common Stock, $0.001 par value (Title of Class of Securities) 08178Q101 (CUSIP Number) Elizabeth C. Freeman c/o GWG Wind Down Trust PO Box 61209, 700 Smith St. Houston, TX 77208-1209 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) May 3, 2024 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rules 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. CUSIP No. 08178Q101 1 NAME OF REPORTING PERSON. GWG Wind Down Trust 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) OO 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Texas NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER 0 8 SHARED VOTING POWER 1,789,703 1 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 1,789,703 1 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,789,703 1 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11); 44.7% 2 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO (1) Share amounts have been adjusted to reflect the impact of a 1-for-80 reverse stock split of the Issuer’s Common Stock (as defined below) that became effective on April 18, 2024. (2) Based on a total of 4,006,365 Shares, outstanding as of July 5, 2024, as disclosed in the Issuer’s Annual Report on Form 10-K for the fiscal year ended March 31, 2024, filed with the SEC on July 9, 2024. 2 CUSIP No. 08178Q101 1 NAME OF REPORTING PERSON. Elizabeth C. Freeman, solely in her capacity as trustee of the GWG Wind Down Trust 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) OO 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION United NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER 0 8 SHARED VOTING POWER 1,789,703 1 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 1,789,703 1 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,789,703 1 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11); 44.7% 2 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN (1) Share amounts have been adjusted to reflect the impact of a 1-for-80 reverse stock split of the Issuer’s Common Stock that became effective on April 18, 2024. (2) Based on a total of 4,006,365 Shares, outstanding as of July 5, 2024, as disclosed in the Issuer’s Annual Report on Form 10-K for the fiscal year ended March 31, 2024, filed with the SEC on July 9, 2024. 3 Amendment No. 7 to Schedule 13D This Amendment No. 7 to Schedule 13D (“ Amendment No. 7 ”) relates to the shares of Class A Common Stock, par value $0.001 per share (the “ Common Stock ”), of Beneficient (the “ Issuer ”) and amends that certain Schedule 13D jointly filed by GWG Wind Down Trust and Elizabeth C. Freeman (each, a “ Reporting Person ” and together, the “ Reporting Persons ”) on August 11, 2023, as amended on August 15, 2023, on October 27, 2023, on March 4, 2024, on April 4, 2024, on April 11, 2024 and on April 17, 2024 (together, the “ Schedule 13D ”). This Amendment No. 7 is being filed to reflect the Reporting Persons’ new percentage of holdings in the Issuer, which has decreased primarily as a result of the disposition of Common Stock by the Reporting Persons. Certain terms used but not defined in this Amendment No. 7 have the meanings assigned thereto in the Schedule 13D, as previously filed by the Reporting Persons. Except as specifically provided herein, this Amendment No. 7 does not modify any of the information previously reported on the Schedule 13D. On April 18, 2024 the issuer has effected a 1-for-80 reverse stock split (the “ Reverse Stock Split ”). Unless noted otherwise, all amounts of shares of Common Stock reported by the Reporting Persons in this Amendment No. 7 reflect the Reverse Stock Split. Item 5 Interest in Securities of the Issuer Item 5 i

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View this SC 13D/A filing on SEC EDGAR