Duyuru • Jul 01
Beneficient announced delayed annual 10-K filing On 06/30/2026, Beneficient announced that they will be unable to file their next 10-K by the deadline required by the SEC. Canlı Haberler • Jun 30
Beneficient Resolves Legacy Issues and Expands AI Collateral Services Following Nasdaq Compliance Beneficient released a shareholder letter from CEO James Silk outlining progress on several corporate issues, including resolving litigation matters, regaining compliance with Nasdaq listing requirements, generating proceeds from asset sales, and completing primary capital transactions.
The company is also expanding its AI-powered collateral management services and has shifted its liquidity transaction structure, with the stated aim of creating greater value for common shareholders.
Beneficient’s stock trades at $3.87, with the share price down 46.8% year to date, indicating that recent corporate clean-up efforts are occurring against a backdrop of a sharply weaker share price over 2026.
Taken together, these updates indicate that Beneficient is working to reset its balance sheet and business model at the same time. This approach could reduce some past overhangs but also leaves execution risk around the new AI-focused services and revised transaction structure. Duyuru • Mar 16
Beneficient, Annual General Meeting, Mar 27, 2026 Beneficient, Annual General Meeting, Mar 27, 2026. Duyuru • Mar 13
Beneficient Appoints Mack H. Hicks to Board of Directors, Effective March 10, 2026 Beneficient announced the appointment of Mack H. Hicks as a member of the Company’s Board of Directors, Effective March 10, 2026. Mr. Hicks is currently Chief Executive Officer of Hicks Holdings LLC, a single-family office with an operating private equity and real estate investment businesses and has been with the firm since 2007. Mr. Hicks is the Co-Founder of Accresa Health, a payment technology company focused on healthcare, and has served as a partner at Accresa since 2015. Prior to his involvement with Hicks Holdings, Mr. Hicks was a research analyst at Halcyon Asset Management LLC, a multi-strategy hedge fund where he was involved in investments in fixed income securities and in public and private equity transactions. Prior to that, he worked at Credit Suisse First Boston as an analyst in the Financial Sponsors and Leverage Finance Groups. Mr. Hicks previously served on the board of Sight Sciences Inc. (Nasdaq: SGHT), an ophthalmic medical device company focused on the development and commercialization of surgical and nonsurgical technologies for the treatment of prevalent eye diseases, from 2011 to 2023. Mr. Hicks received his B.A. in History from the University of Texas at Austin, and is a graduate of the Owner/President Management Program at the Harvard Business School of Executive Education. Reported Earnings • Feb 18
Third quarter 2026 earnings released: EPS: US$1.41 (vs US$10.51 loss in 3Q 2025) Third quarter 2026 results: EPS: US$1.41 (up from US$10.51 loss in 3Q 2025). Net income: US$19.9m (up US$28.6m from 3Q 2025). Revenue is forecast to grow 144% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Capital Markets industry in the US. Duyuru • Feb 13
Beneficient to Report Q3, 2026 Results on Feb 17, 2026 Beneficient announced that they will report Q3, 2026 results on Feb 17, 2026 Board Change • Dec 11
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Director Bruce Schnitzer is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Duyuru • Dec 11
Beneficient Announces Passing of Chairman Thomas O. Hicks Beneficient announced the passing of Thomas O. Hicks, Chairman of its Board of Directors, on December 6, 2025, at the age of 79. Thomas O. Hicks was a legendary figure in American business, a pioneer in private equity, and a dedicated leader who brought extraordinary vision, discipline, and experience to Beneficient. Hicks co-founded Hicks & Haas in 1984 and Hicks, Muse, Tate & first in 1989, helping to reshape the private equity landscape with his “buy and build” strategy. He served on the Beneficient Board since 2017 and was appointed Chairman in July 2025, providing his decades of seasoned leadership to help guide the Company's strategic direction. Beyond his corporate achievements, Mr. Hicks had a profound impact on the city of Dallas and the State of Texas, including ownership of the Dallas Stars and Texas Rangers and playing a central role in developing the American Airlines Center and serving as the founding Chairman of the University of Texas Investment Management Company. Price Target Changed • Nov 20
Price target decreased by 50% to US$2.00 Down from US$4.00, the current price target is provided by 1 analyst. New target price is 253% above last closing price of US$0.57. Stock is down 31% over the past year. The company is forecast to post a net loss per share of US$1.13 compared to earnings per share of US$8.72 last year. Price Target Changed • Oct 20
Price target decreased by 50% to US$2.00 Down from US$4.00, the current price target is provided by 1 analyst. New target price is 285% above last closing price of US$0.52. Stock is down 60% over the past year. The company is forecast to post earnings per share of US$3.16 for next year compared to US$8.72 last year. Duyuru • Oct 10
Beneficient Receives Non-Compliance Notice from Nasdaq On October 3, 2025, Beneficient (the “Company”) was notified by the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) that because the Company’s Form 10-K for the fiscal year ended March 31, 2025 reported a stockholders’ equity of ($34.925 million), the Company was in non-compliance with the minimum stockholders’ equity requirement set forth in Nasdaq Listing Rule 5550(b)(1) (the “Stockholders’ Equity Requirement”), which could also serve as a separate and additional basis for delisting in addition to the matters described below (such letter, the “Additional Determination Letter”). The Additional Determination Letter also provided that the Panel (as defined below) will consider the Additional Determination Letter in their decision regarding the Company’s continued listing on Nasdaq. The Company is taking definitive steps to evidence compliance with the Stockholders’ Equity Requirement, but there can be no assurance that the Company will regain compliance. Prior to receiving the Additional Determination Letter, the Company received notifications from Nasdaq that remain outstanding with respect to the Company’s non-compliance with Nasdaq Listing Rule 5250(c)(1) (the “Periodic Filing Requirement”) and Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Requirement”). As a result, on August 26, 2025, a hearing was held before the Nasdaq Hearing Panel (the “Panel”), at which the Panel considered the Company’s plan to regain compliance with the Periodic Filing Requirement and the Bid Price Requirement. The Company filed its Annual Report on Form 10-K for the fiscal year ended March 31, 2025 with the Securities and Exchange Commission (the “SEC”) within the extension period allowed for by the Panel. The Company continues to work diligently with its auditor to complete and file with the SEC its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 in order to satisfy the Periodic Filing Requirement. Additionally, to the extent the Company has not demonstrated compliance with the Bid Price Requirement, the Company expects to seek stockholder approval to effect a reverse stock split of its Class A common stock, par value $0.001 per share (the “Class A Common Stock”), and Class B common stock, $0.001 par value per share (the “Class B Common Stock” and, together with the Class A Common Stock, the “Common Stock”). The Company anticipates the reverse stock split of the Common Stock will allow it to demonstrate compliance with the Bid Price Requirement within the extension period granted by the Panel. Although the Company is taking definitive steps to evidence compliance with all applicable criteria for continued listing on The Nasdaq Capital Market, there can be no assurance that the Company will be able to timely regain compliance with the Periodic Filing Requirement and the Bid Price Requirement within the extension period granted by the Panel. Duyuru • Aug 23
Beneficient Announces Notice of Nasdaq Non-Compliance and Potential Delisting Beneficient announced that on August 18, 2025, the Company was notified by The Nasdaq Stock Market LLC (“Nasdaq”) that, the delay in the filing of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 with the Securities and Exchange Commission (the “SEC”), in contravention of Nasdaq’s periodic reporting requirement set forth in Nasdaq Listing Rule 5250(c)(1), served as an additional basis for delisting from The Nasdaq Capital Market. As previously disclosed, the Company previously received a notification from Nasdaq that due to its continued non-compliance with the minimum $1.00 bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) and the delay in the filing of the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2025 with the SEC in contravention of Nasdaq’s periodic reporting requirement set forth in Nasdaq Listing Rule 5250(c)(1), the Company’s securities were subject to delisting. The Company timely requested a hearing before the Nasdaq Hearings Panel (the “Panel”), at which the Company will present its plan to evidence compliance with all applicable criteria for continued listing on The Nasdaq Capital Market and request an extension of time to do so. While the Company is taking definitive steps to evidence compliance with the applicable listing criteria as soon as practicable, there can be no assurance that the Panel will grant the Company’s request for continued listing on Nasdaq. Duyuru • Aug 20
Beneficient announced delayed 10-Q filing On 08/19/2025, Beneficient announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Duyuru • Jul 20
Beneficient Receives Nasdaq Listing Determination and to Request Hearing Before the Nasdaq Hearings Panel As previously disclosed, on January 17, 2025, Beneficient (the ‘Company’) received a letter (the ‘January 2025 Notice’) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (‘Nasdaq’) stating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) (the ‘Bid Price Requirement’) because the bid price for the Company’s Class A common stock had closed below the $1.00 per share minimum threshold required for continued listing on The Nasdaq Capital Market for the previous 30 consecutive business days. The January 2025 Notice provided the Company a 180-calendar day period to regain compliance with the Bid Price Requirement, through July 14, 2025. On July 16, 2025, the Company was notified by Nasdaq (the ‘Determination Letter’) that, based upon the Company’s continued non-compliance with the Bid Price Requirement as of July 14, 2025, the Company’s securities were subject to delisting from Nasdaq unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the ‘Panel’), which the Company plans to do. Additionally, the Company has not yet filed its Annual Report on Form 10-K for the fiscal year ending March 31, 2025 with the Securities and Exchange Commission and, as such, the Determination Letter also notified the Company that its non-compliance with the periodic reporting requirement set forth in Nasdaq Listing Rule 5250(c)(1) (the ‘Filing Requirement’) could serve as a separate and additional basis for delisting. In addition to the Company’s request for a hearing before the Panel and in accordance with Nasdaq Listing Rule 5815(a)(1), the Company also plans to timely submit a request for a further extension of the automatic stay otherwise afforded Nasdaq-listed issuers that satisfy the Filing Requirement to ensure the continued trading of the Company’s securities on Nasdaq at least pending the ultimate outcome of the hearing process and the expiration of any extension period that may be granted to the Company following the hearing. However, there can be no assurance that the Panel will grant the Company’s request for continued listing or, in the event an extension is granted, that the Company will be able to timely satisfy the terms of the Panel’s decision to ensure it will remain listed on Nasdaq. Duyuru • Jul 03
Beneficient announced delayed annual 10-K filing On 07/01/2025, Beneficient announced that they will be unable to file their next 10-K by the deadline required by the SEC. Duyuru • May 07
Beneficient announced that it has received $0.233333 million in funding On May 6, 2025 Beneficien closed the transaction. The transaction included participation from single investor. The company issued $6767 as sales commission issued to AltAccess Securities Company, L.P. Duyuru • Apr 19
Beneficient announced that it has received $9.655758 million in funding On April 18, 2025, Beneficient closed the transaction. The transaction included participation from a single investor. The company issued $280,017 as sales commissions paid to AltAccess Securities Company, L.P. Breakeven Date Change • Mar 31
No longer forecast to breakeven The analyst covering Beneficient no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of US$42.1m in 2025. New forecast suggests the company will make a loss of US$51.2m in 2026. Duyuru • Mar 10
Beneficient Announces Agreement to Settle GWG Litigation Beneficient announced that it has entered into a binding agreement to settle all claims in the previously disclosed lawsuits relating to GWG Holdings Inc. (“GWG”) in federal court in the Northern District of Texas and the Bankruptcy Court for the Southern District of Texas (“GWG Litigation”) against the Company, its subsidiaries, and each of their current and former directors and officers, including its founder and CEO, Brad Heppner (collectively, the “Beneficient Parties”), for a sum within applicable insurance policy limits. The Company and its directors and officers have vigorously contested and continue to contest the allegations in the GWG Litigation, fundamentally challenging the underlying factual assertions and maintaining substantive and well-founded defenses. The Company’s decision to enter into this settlement agreement was based on eliminating ongoing costs, distractions, and other risks inherent in litigation. The proposed settlement, which is subject to court approval and other conditions, would resolve all claims asserted against the Beneficient Parties without any admission, concession or finding of any fault, liability or wrongdoing by the Company or any defendant. Under the terms of the proposed settlement, the plaintiffs will receive an agreed upon amount of cash that will be paid entirely from funds available under applicable insurance policies. Following the settlement of the GWG Litigation, other GWG-related claims against parties other than the Company, its subsidiaries, and each of their current and former directors and officers, including its founder and CEO, remain outstanding, including certain claims against entities related to Beneficient’s founder and CEO to whom Beneficient owes certain indemnification obligations. The Company intends to support a vigorous defense against such claims. Duyuru • Mar 03
Beneficient, Annual General Meeting, Mar 31, 2025 Beneficient, Annual General Meeting, Mar 31, 2025. Reported Earnings • Feb 14
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: US$1.02 loss per share (improved from US$158 loss in 3Q 2024). Net loss: US$8.64m (loss narrowed 98% from 3Q 2024). Revenue exceeded analyst estimates significantly. Earnings per share (EPS) also surpassed analyst estimates by 64%. Revenue is forecast to grow 38% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Capital Markets industry in the US. Duyuru • Feb 11
Beneficient to Report Q3, 2025 Results on Feb 13, 2025 Beneficient announced that they will report Q3, 2025 results on Feb 13, 2025 Duyuru • Jan 18
Beneficient Receives Non-Compliance Letter from Nasdaq Regarding Bid Price Requirement On January 13, 2025, Beneficient (the Company") received a letter (the Notice") from the Listing Qualifications Department (the Staff") of The Nasdaq Stock Market LLC (Nasdaq") notifying the Company that, for the previous 30 consecutive business days, the closing bid price for the Company's Class A common stock, par value $0.001 per share (the Class A Common Stock"), had been below the minimum $1.00 per share required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the Bid Price Requirement"). The Notice has no effect at this time on the Class A Common Stock, which continues to trade on The Nasdaq Capital Market under the symbol BENF". In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until July 14, 2025 (the Compliance Date"), to regain compliance with the Bid Price Requirement. If, at any time before the Compliance Date, the bid price for the Class A Common Stock closes at $1.00 or more for a minimum of 10 consecutive business days, the Staff will provide written notification to the Company that it has regained compliance with the Bid Price Requirement (unless the Staff exercises its discretion to extend the 10-day period). If the Company is not in compliance with the Bid Price Requirement by the Compliance Date, the Company may qualify for a second 180 calendar day period to regain compliance with the Bid Price Requirement. To qualify for an additional compliance period, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the Bid Price Requirement, and would need to provide written notice to the Staff of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company does not qualify for or fails to regain compliance during the second compliance period, then the Staff will provide written notification to the Company that its Class A Common Stock will be subject to delisting. At that time, the Company may appeal the Staff's delisting determination to the Nasdaq Listing Qualifications Panel. However, there can be no assurance that, if the Company receives a delisting notice and appeals the delisting determination, that such an appeal would be successful. The Company intends to monitor the closing bid price of its Class A Common Stock and is evaluating available options, including seeking to effect a reverse stock split, to resolve the noncompliance matters described herein and intends to take appropriate steps to maintain its listing on Nasdaq. However, there can be no assurance that the Company will be able to regain compliance with the Bid Price Requirement. New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 47% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (47% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (US$3.40m market cap). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$26m net loss next year). Share price has been volatile over the past 3 months (12% average weekly change). Duyuru • Dec 10
Beneficient Appoints Louise Jones as Managing Director of Capital Markets and Custody Operations Beneficient announced the hiring of Louise Jones as Managing Director of Capital Markets and Custody Operations. Beneficient hired Ms. Jones In connection with the Company’s recently announced transaction to acquire Mercantile Bank International Corp. Ms. Jones is expected to manage the integration of Mercantile Bank and spearhead the expansion of the Company’s fee-based alternative asset custody business, including the launch of a depositary receipt companion business line. Immediately prior to joining the Company, Ms. Jones was engaged as a consultant for the current owner of Mercantile Bank and was tasked with facilitating its sale to a third party. Ms. Jones’ career on Wall Street spans four decades, beginning when she was the young woman to hold a seat as a member of the New York Stock Exchange (NYSE) and later served on various NYSE member committees and was nominated for Governor of the NYSE. Additionally, Ms. Jones led NYSE’s development and adoption of handheld technology, transforming floor trading and execution. She went on to co-found one of the large independent NYSE floor brokerage operations, Cassidy, Jones & Co. Inc., which she ultimately successfully sold to Sungard Global. Her tenure as a senior financial advisor at Merrill Lynch and managing director of originations for Exworks Capital further underscores her multifaceted skill set that includes understanding diverse financial products, cultivating strategic partnerships and driving business development. Her leadership transcends the trading floor; she built, owned and operated Sydney’s Playground, New York City’s largest indoor playground and was the only adoptee to serve on the Board of the New York Foundling Hospital. Ms. Jones holds FINRA-registered licenses Series 7, 27, 63 and 66. Recent Insider Transactions • Nov 28
Independent Director recently bought US$70k worth of stock On the 19th of November, Peter Cangany bought around 75k shares on-market at roughly US$0.93 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold US$6.0m more in shares than they bought in the last 12 months. Duyuru • Nov 27
Beneficient Regains Compliance with NASDAQ Minimum Stockholders’ Equity Requirement and Audit Committee Requirement Beneficient announced that it has received notice from The Nasdaq Stock Market LLC (‘Nasdaq’) that it has regained compliance with the Stockholders’ Equity Requirement under Nasdaq Listing Rule 5550(b)(1) and the Audit Committee Requirement under Nasdaq Listing Rule 5605(c)(2). As a result, the Company’s securities will continue to be listed and traded on Nasdaq. Recent Insider Transactions • Nov 22
Independent Director recently bought US$70k worth of stock On the 19th of November, Peter Cangany bought around 75k shares on-market at roughly US$0.93 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold US$6.0m more in shares than they bought in the last 12 months. New Risk • Nov 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$52m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$52m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (US$6.02m market cap). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$26m net loss next year). Shareholders have been diluted in the past year (45% increase in shares outstanding). Significant insider selling over the past 3 months (US$3.6m sold). Duyuru • Nov 12
Beneficient to Report Q2, 2025 Results on Nov 14, 2024 Beneficient announced that they will report Q2, 2025 results on Nov 14, 2024 Reported Earnings • Oct 24
First quarter 2025 earnings released: EPS: US$12.11 (vs US$439 loss in 1Q 2024) First quarter 2025 results: EPS: US$12.11 (up from US$439 loss in 1Q 2024). Net income: US$47.7m (up US$1.16b from 1Q 2024). Revenue is forecast to grow 143% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Capital Markets industry in the US. New Risk • Oct 24
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 53% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (US$6.32m market cap). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$12m net loss next year). Significant insider selling over the past 3 months (US$3.8m sold). Duyuru • Oct 04
Beneficient Appoints Patrick J. Donegan as an Independent Member, Audit, Products and Related Party Transactions, Credit and Enterprise Risk Committees Beneficient announced the appointment of Patrick J. Donegan as an independent member of the Company’s Board of Directors as of September 30, 2024. In addition to being an independent director, he was appointed to serve on the Audit, Products and Related Party Transactions, Credit and Enterprise Risk committees of the Board. Mr. Donegan brings almost thirty years of compliance, legal, banking and capital markets experience to Ben, having held various senior compliance positions, including as Chief Compliance Officer, for bank holding companies and broker dealers and as Assistant General Counsel for a securities company. Over the course of his career, Mr. Donegan has attained eleven FINRA licenses and two certifications from the American Bankers Association, including the Certified Regulatory Compliance Mangers designation, and currently holds a Certified Anti-Money Laundering Specialist certification. Mr. Donegan received a Bachelor of Science in Accounting from St. John’s University and a J.D. from St. John’s University School of Law. Mr. Donegan currently serves as a Senior Adviser at Premier Consulting Partners Inc., a consulting firm focused on operational risk evaluation and compliance, and previously served as the Global Chief Compliance Officer of OKX Group from August 2023 to January 2024. From 2015 to 2023, Mr. Donegan held various leadership positions at Signature Bank, including Chief Compliance Officer, Senior Vice President and Sanctions Compliance Officer. Mr. Donegan’s professional career has also included positions with a number of prominent investment banks, including Cantor Fitzgerald, RBC, Guggenheim, BNP Paribas and Nat West, and compliance roles at Mitsubishi UFJ and Hudson City Bancorp. Through his legal experience and compliance officer roles, Mr. Donegan has developed expertise in identifying risks and establishing policies and procedure to effectively manage those risks. Mr. Donegan’s understanding of banking and capital markets rules and the related regulatory processes will benefit the Company’s efforts to maintain industry best practices across the organization. Board Change • Oct 02
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Pete Cangany was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Sep 13
Beneficient announced that it has received $0.237 million in funding from Cangany Capital Management, LLC Beneficient. announced that it has entered into a subscription agreement with Cangany Capital Management, LLC purchased 150,000 shares at a price per share of $1.58 for gross proceeds of $ 237,000 on September 11, 2024. Duyuru • Sep 06
Beneficient Receives Letter from Nasdaq Due to Non-Compliance with the Minimum Stockholders’ Equity Requirement Pursuant to Nasdaq Listing Rule 5550(b)(1) As previously disclosed, on July 16, 2024, Beneficient (the ‘Company’) received a letter (the ‘Notice’) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (the ‘Staff’) indicating that the Company was no longer in compliance with the minimum stockholders’ equity requirement (the ‘Minimum Stockholders’ Equity Requirement’) for continued listing on The Nasdaq Capital Market (‘Nasdaq’) pursuant to Nasdaq Listing Rule 5550(b)(1), which requires listed companies to maintain stockholders’ equity of at least $2,500,000 or meet the alternative compliance standards relating to the market value of listed securities or net income from continuing operations, which the Company does not currently meet. On August 30, 2024, the Company timely submitted a plan to the Staff to regain compliance with the Minimum Stockholders’ Equity Requirement (the ‘Plan’). In connection with the Plan, on August 30, 2024, the Company, Beneficient Company Holdings, L.P. (‘BCH’), Beneficient Company Group, L.L.C., the sole general partner of BCH (‘BCH GP’), and Beneficient Holdings Inc., the majority holder of the Preferred Series A Subclass 0 Unit Accounts (‘Preferred A-0 Accounts’) of BCH (‘BHI’), entered into that certain letter agreement (the ‘Letter Agreement’), pursuant to which BCH GP and BHI agreed to amend the Ninth Amended and Restated Limited Partnership Agreement of BCH, effective April 18, 2024 (the ‘BCH LPA’), on or before September 30, 2024 to provide for (i) the redesignation of 50% of the aggregate capital account balances in the Preferred A-0 Accounts as non-redeemable Preferred A-0 Accounts (such redesignated portion, the ‘Preferred A-0 Non-Redeemable Accounts’) and (ii) the remaining 50% of the capital account balances in the Preferred A-0 Accounts to remain redeemable (such remaining Preferred A-0 Accounts being the ‘Preferred A-0 Redeemable Accounts’), with the amendment and redesignation being applicable to all holders of the Preferred A-0 Accounts. As a result of the redesignation contemplated by the Letter Agreement, the Company expects approximately $125.5 million of temporary equity to be reclassified to permanent equity on the Company’s balance sheet on or before September 30, 2024. Additionally, BCH GP and BHI agreed to further redesignate, on a pro rata basis, such additional amount of the aggregate capital account balances of the Preferred A-0 Redeemable Accounts into the Preferred A-0 Non-Redeemable Accounts on or before the end of the compliance period such that the Company regains compliance with the Minimum Stockholders’ Equity Requirement. There can be no assurance that the Staff will accept the Plan or that the Company will be able to regain compliance with the Minimum Stockholders’ Equity Requirement or maintain compliance with other Nasdaq listing rules. Duyuru • Aug 15
Beneficient Reports Goodwill Impairment for the First Quarter Ended June 30, 2024 Beneficient reported Goodwill impairment for the first quarter ended June 30, 2024. For the quarter the company reported Goodwill impairment of $3,394,000 against $1,096,305,000 a year ago. Duyuru • Aug 13
Beneficient Announces Enhanced AltAccess Platform with New Machine-Automated Pricing System Beneficient announced the latest advancements to its fintech platform, AltAccess®?. The new release of AltAccess introduces the Machine-Automated Pricing System ("MAPS"), which incorporates Ben's formula-based pricing model for qualified fiduciary financings and is engineered to optimize dynamic pricing and real-time net asset valuations of alternative assets allowing for the rapid processing of liquidity transactions. Technical Enhancements for AltAccess: The integration of MAPS into the AltAccess platform marks a significant upgrade. MAPS offers enhanced algorithms designed to handle a higher volume of the Company's liquidity and primary capital transactions with greater efficiency for alternative asset sponsors and investors. MAPS leverages current private market metrics and public market conditions to deliver dynamic and automated pricing. This development is expected to more rapidly deliver pricing of qualified fiduciary finANCings and enable customers to achieve earlier liquidity from their alternative assets or secure primary capital solutions during their fund raising while fostering increased confidence and transparency in the transaction process. Historically, Ben's AltAccess platform offered time-to-close for liquidity transactions, reducing the process to as few as 30 days compared to as long as 15 months or more from secondary liquidity competitors. With MAPS, this period is expected to be further reduced to potentially 15 days or less. This acceleration from the industry standard of up to 15 months to 15 days is anticipated to significantly enhance Ben's operational capacity, which would enable to scale the delivery of liquidity and primary capital solutions for a diverse range of alternative assets, including private equity, venture capital, credit, infrastructure, and real assets. Further, MAPS can deliver pricing on a broad range of alternative asset vehicle types including closed-end funds, feeder funds, fund-of-funds, and evergreen funds, among others. Advanced Capabilities of MAPS implements Ben's new formula-based pricing system, which is engineered to dynamically adjust based on a broad spectrum of inputs. These include the latest private market metrics and public market data. This innovation is designed to provide customers with up-to-date and precise valuations generated through a consistently applied methodology, streamlining their decision-making processes. Strategic Implementation: The initial rollout of MAPS is expected to include Ben's General Partner ("GP") Solutions group, particularly the GP Primary Commitment Program. This strategic move is expected to enhance capability to offer compelling primary capital solutions and efficiently close strategic liquidity or restructuring transactions for GPs. The GP Primary Commitment Program is focused on providing primary capital solutions and financing anchor commitments while immediately deploying capital into equity to General Partners during their fundraising efforts. Market Impact and Future Plans: Ben's commitment to innovation through AltAccess and its integration of MAPS is poised to address the approximately $400 billion in market demand for liquidity restructuring solutions and primary capital. The enhanced platform aims to deliver secure, rapid, and transparent transactions, reinforcing Ben's position as an innovation in the alternative asset liquidity market. Following the initial deployment, Ben plans to extend the MAPS capabilities through AltAccess across other target markets, including mid-to-high net worth individuals, small-to-midsized institutions and the advisors and consultants that work with these investors. This expansion is expected to further diversify and enhance Ben's product offerings, with the goal of delivering significant value to both customers and stockholders while meeting a large and rapidly growing industry demand for regulated, tech enabled solutions that make investing in, reporting on and exiting alternative investments more frictionless. Duyuru • Aug 08
Beneficient to Report Q1, 2025 Results on Aug 14, 2024 Beneficient announced that they will report Q1, 2025 results at 4:00 PM, US Eastern Standard Time on Aug 14, 2024 Duyuru • Jul 26
Beneficient Receives Non-Compliance Letter Regarding Nasdaq's Audit Committee Composition Requirements On July 23, 2024, Beneficient (the Company) notified The Nasdaq Stock Market LLC (Nasdaq) that, following the Resignations from the Company's Board of Directors, the Company currently has a vacancy on the audit committee of the Board (the Audit Committee) and intends to rely on the cure period set in the Nasdaq Listing Rules while it recruits a new Audit Committee member. On July 25, 2024, the Company received a notice from Nasdaq (the Notice) confirming that the Company is no longer in compliance with Nasdaq's audit committee composition requirements as set in Nasdaq Listing Rule 5605, which requires that the audit committee of a listed company be comprised of at least three independent directors" (as defined in Nasdaq Listing Rule 5605(a)(2)). Pursuant to Nasdaq Listing Rule 5605(c)(4), the Company intends to rely on the cure period to reestablish compliance with Nasdaq Listing Rule 5605. The cure period is generally defined as until the earlier of the Company's next annual meeting of stockholders or July 21, 2025. If the Company's next annual meeting of stockholders is held before January 15, 2025, then the Company must evidence compliance no later than January 15, 2025. The Board is in the process of identifying and selecting a new member of the Board who qualifies as independent" and meets the audit committee criteria set in Nasdaq Listing Rule 5605. The Board intends to comply fully with Nasdaq audit committee requirements by or before the end of the cure period described above. The Notice has no immediate effect on the listing or trading of the Company's Class A common stock, par value $0.001 per share, on Nasdaq. Duyuru • Jul 20
Beneficient Receives a Letter from Nasdaq Regarding Non-Compliance with the Minimum Stockholders’ Equity Requirement for Continued Listing on The Nasdaq Capital Market On July 16, 2024, Beneficient (the ‘Company’) received a letter (the ‘Notice’) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (the ‘Staff’) indicating that it is no longer in compliance with the minimum stockholders’ equity requirement (the ‘Minimum Stockholders’ Equity Requirement’) for continued listing on The Nasdaq Capital Market (‘Nasdaq’) pursuant to Nasdaq Listing Rule 5550(b)(1). Nasdaq Listing Rule 5550(b)(1) requires listed companies to maintain stockholders’ equity of at least $2,500,000 or meet the alternative compliance standards relating to the market value of listed securities or net income from continuing operations, which the Company does not currently meet. Pursuant to the Notice and the Listing Rules of Nasdaq, Nasdaq has provided the Company with 45 calendar days, or until August 30, 2024, to submit a plan to regain compliance with the Minimum Stockholders’ Equity Requirement. If the Company’s plan to regain compliance is accepted, the Staff can grant an extension of up to 180 calendar days from the date of the Notice to evidence compliance. If the Company’s plan to regain compliance is not accepted, or if it is accepted and the Company does not regain compliance in the timeframe required by Nasdaq, the Staff could provide notice that the Company’s shares of Class A common stock, par value $0.001 per share (‘Class A common stock’), are subject to delisting. In such an event, the Company would have the right to request a hearing before a Nasdaq Hearings Panel. The hearing request would automatically stay any suspension or delisting action pending the completion of the hearings process. The Notice has no immediate impact on the listing of the Class A common stock, which will continue to be listed and traded on Nasdaq under the symbol ‘BENF,’ subject to the Company’s compliance with the other listing requirements of Nasdaq. The Company is currently evaluating options to regain compliance and intends to timely submit a plan to regain compliance with the Minimum Stockholders’ Equity Requirement. Although the Company intends to use all reasonable efforts to achieve compliance with the Minimum Stockholders’ Equity Requirement, there can be no assurance that the Company will be able to regain compliance with the Minimum Stockholders’ Equity Requirement or that the Company will otherwise be in compliance with other applicable Nasdaq listing criteria. Duyuru • Jul 03
Beneficient announced delayed annual 10-K filing On 07/02/2024, Beneficient announced that they will be unable to file their next 10-K by the deadline required by the SEC. Duyuru • Jul 02
Beneficient to Report Q4, 2024 Results on Jul 02, 2024 Beneficient announced that they will report Q4, 2024 results at 9:30 AM, US Eastern Standard Time on Jul 02, 2024 Duyuru • Apr 17
Beneficient Announces Reverse Stock Split to Regain Compliance with Nasdaq’s Minimum Bid Price Beneficient announced a 1-for-80 reverse stock split (the ‘Reverse Stock Split’) of its Class A common stock, par value $0.001 per share (the ‘Class A Common Stock’), and its Class B common stock, par value $0.001 per share (‘Class B Common Stock’ and together with the Class A Common Stock, the ‘Common Stock’). The Reverse Stock Split was previously approved by the company’s stockholders on March 21, 2024. The company’s Class A Common Stock will continue to trade on The Nasdaq Capital Market (‘Nasdaq’) under the symbol ‘BENF’ and will begin trading on a split-adjusted basis when the market opens on April 18, 2024. The new CUSIP number for the company’s common stock following the Reverse Stock Split will be 08178Q309. The Reverse Stock Split is intended to enable the company to regain compliance with the minimum bid price requirement for continued listing on Nasdaq. New Risk • Apr 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 22% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 53% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 9x increase in shares outstanding). Revenue is less than US$1m. Minor Risks Significant insider selling over the past 3 months (US$1.4m sold). Market cap is less than US$100m (US$14.4m market cap). Duyuru • Mar 29
Beneficient Provides Non-Compliance Update As previously disclosed, on November 28, 2023, Beneficient (the Company") received a deficiency letter from The Nasdaq Stock Market, LLC (Nasdaq") indicating that for the previous 30 consecutive trading days, the closing bid price of the Company's Class A common stock, par value $0.001 per share (the Class A Common Stock"), had been below the minimum $1.00 per share required for continued listing on Nasdaq under Listing Rule 5450(a)(1) (the Bid Price Rule"). The Company was provided an initial period of 180 calendar days, or until May 28, 2024, to regain compliance with the Bid Price Rule. On March 22, 2024, the Company received a letter from Nasdaq advising that the Nasdaq Staff (the Staff") had determined that, as of March 21, 2024, the Company's Class A Common Stock had a closing bid price of $0.10 or less for at least ten consecutive trading days. Accordingly, the Company is subject to the provisions contemplated under Listing Rule 5810(c)(3)(A)(iii) (the Low Priced Stocks Rule"). As a result, the Staff determined to delist the Company's securities from The Nasdaq Capital Market (the Staff Determination"), unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the Panel") pursuant to the procedures set in the Nasdaq Listing Rule 5800 Series. The Company plans to appeal the Staff Determination to the Panel. An appeal of the Staff Determination results in a hearing before the Panel to present the Company's plan to regain compliance with the applicable listing requirements. Pending the hearing, the Company's Class A Common Stock and warrants will continue to be listed on The Nasdaq Capital Market as, under the Nasdaq Listing Rules, such a request automatically stays the delisting at least until the hearing process concludes. There can be no assurance that the Panel will approve the Company's plan to regain compliance with the applicable listing requirements. The Company is evaluating available options to resolve the noncompliance matters described herein and intends to take appropriate steps to maintain its listing on Nasdaq, including, if necessary implementing a reverse stock split to regain compliance with both the Bid Price Rule and the Low Priced Stocks Rule. As previously announced by the Company on March 22, 2024, the Company obtained stockholder approval for a reverse stock split of the Company's Class A Common Stock and Class B common stock, par value $0.001 per share (the Class B Common Stock," and together with the Class A Common Stock, the Common Stock"), at a ratio in the range of 1-for-10 to 1-for-100, with the exact ratio to be determined by the Company's Board of Directors, if at all. However, there can be no assurance that the Panel will grant the Company's request for continued listing, that the Company will be able meet the continued listing requirements during any compliance period that may be granted by the Panel or that effecting a reverse stock split of its Common Stock will enable the Company to satisfy continued listing criteria and maintain the listing of its securities on The Nasdaq Capital Market. Duyuru • Mar 13
Beneficient announced that it has received $62.096231 million in funding On March 13, 2024, Beneficient closed the transaction. The transaction included participation from three investors. Recent Insider Transactions • Feb 29
Independent Director recently bought US$102k worth of stock On the 21st of February, Peter Cangany bought around 400k shares on-market at roughly US$0.26 per share. This transaction increased Peter's direct individual holding by 6x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$71k more in shares than they have sold in the last 12 months. Reported Earnings • Feb 15
Third quarter 2024 earnings released: US$1.98 loss per share (vs US$0.55 loss in 3Q 2023) Third quarter 2024 results: US$1.98 loss per share (further deteriorated from US$0.55 loss in 3Q 2023). Net loss: US$542.2m (loss widened US$505.3m from 3Q 2023). Duyuru • Feb 09
Beneficient to Report Q3, 2024 Results on Feb 13, 2024 Beneficient announced that they will report Q3, 2024 results at 4:00 PM, US Eastern Standard Time on Feb 13, 2024 New Risk • Jan 21
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$96.1m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$64m free cash flow). Earnings have declined by 47% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 9x increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Market cap is less than US$100m (US$96.1m market cap). Duyuru • Dec 03
Beneficient Receives Non-Compliance Notice From Nasdaq On November 28, 2023, Beneficient (the “Company”) received a letter (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the previous 30 consecutive business days, the closing bid price for the Company’s Class A common stock, par value $0.001 per share (the “Class A Common Stock”), had been below the minimum $1.00 per share required for continued listing on The Nasdaq Global Market under Nasdaq Listing Rule 5450(a)(1) (the “Bid Price Requirement”). The Notice has no effect at this time on the Class A Common Stock, which continues to trade on The Nasdaq Global Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until May 28, 2024 (the “Compliance Date”), to regain compliance with the Bid Price Requirement. If, at any time before the Compliance Date, the bid price for the Class A Common Stock closes at $1.00 or more for a minimum of 10 consecutive business days, the Staff will provide written notification to the Company that it has regained compliance with the Bid Price Requirement (unless the Staff exercises its discretion to extend the 10-day period). If the Company is not in compliance with the Bid Price Requirement by the Compliance Date, the Company may qualify for a second 180 calendar day period to regain compliance with the Bid Price Requirement. To qualify for an additional compliance period, the Company would need to transfer the listing of the Class A Common Stock to the Nasdaq Capital Market and meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, except for the Bid Price Requirement. If the Company does not qualify for or fails to regain compliance during the second compliance period, then the Staff will provide written notification to the Company that its Class A Common Stock will be subject to delisting. At that time, the Company may appeal the Staff’s delisting determination to the Nasdaq Listing Qualifications Panel. However, there can be no assurance that, if the Company receives a delisting notice and appeals the delisting determination, that such an appeal would be successful. The Company intends to monitor the closing bid price of its Class A Common Stock and is evaluating available options, including seeking to effect a reverse stock split, to resolve the noncompliance matters described herein and intends to take appropriate steps to maintain its listing on Nasdaq. However, there can be no assurance that the Company will be able to regain compliance with the Bid Price Requirement. Reported Earnings • Nov 16
Second quarter 2024 earnings released: US$1.45 loss per share (vs US$0.076 loss in 2Q 2023) Second quarter 2024 results: US$1.45 loss per share (further deteriorated from US$0.076 loss in 2Q 2023). Net loss: US$371.7m (loss widened US$366.6m from 2Q 2023). Duyuru • Nov 16
Beneficient Reports Impairment Results for the Three Months Ended September 30, 2023 Beneficient reported impairment results for the three months ended September 30, 2023. For the quarter, the company reported Loss on impairment of goodwill of $306,684,000. Duyuru • Nov 10
Beneficient to Report Q3, 2023 Results on Nov 13, 2023 Beneficient announced that they will report Q3, 2023 results After-Market on Nov 13, 2023 Board Change • Sep 30
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Pete Cangany was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Jul 18
Beneficient Announces Public Launch of AltAccess and Launches AltQuote Beneficient announced the public launch of AltAccess, which is its platform that allows those holders to accelerate the monetization of otherwise illiquid holdings through a secure, rapid and cost-effective online process. Liquidity, the Ben® Way, means that investors can exit their alternative assets, based on their individual needs, through cash, equity or debt securities. Along with opening AltAccess to the public, the company is also launching AltQuote, a web-based tool for rapid pricing of professionally managed alternative assets. With a database of more than 57,000 funds, AltQuote can generate an indicative quote in minutes for investors looking to understand the value they may obtain in an early exit. Duyuru • Jul 01
Beneficient announced delayed annual 10-K filing On 06/30/2023, Beneficient announced that they will be unable to file their next 10-K by the deadline required by the SEC. Duyuru • Jun 29
Beneficient announced that it expects to receive $250 million in funding from Yorkville Advisors Global LP Beneficient announced that it has entered into a purchase agreement to issue class A common stock for the gross proceeds of $250 million on June 27, 2023. The transaction will include participation from new investor, YA II PN, Ltd., a fund managed by, Yorkville Advisors Global LP. As a part of the transaction, the company has paid the investor, a structuring fee in the amount of $25,000. In addition, no later than three trading days following entry into the SEPA, the Company will pay a commitment fee in an amount equal to $1,250,000. Board Change • Jun 10
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 8 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). Director Emily Hill was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.