Welcome to our dedicated page for Beneficient news (Ticker: BENF), a resource for investors and traders seeking the latest updates and insights on Beneficient stock.
Beneficient Class A Common Stock (symbol: BENF) represents a technology-enabled financial services holding company aimed at redefining liquidity in the alternative asset industry. Beneficient, together with its subsidiaries, provides simple, rapid, and cost-effective liquidity solutions through its innovative platform, AltAccess. This platform addresses the needs of mid-to-high net worth individual investors, small-to-midsize institutional investors, family offices, and fund general partners by offering bespoke liquidity solutions for otherwise illiquid alternative asset investments.
The company's core business is designed to meet the unmet needs of its diverse clientele by leveraging proprietary technology and an advanced financing and trust structure. Beneficient operates across three main segments: Ben Liquidity, Ben Custody, and Customer ExAlt Trusts.
Recent achievements include the development and launch of the state-of-the-art fintech platform AltAccess and an innovative trust structure. The company has also formed a strategic partnership with Darrow Associates to enhance its investor communication strategy. Notably, Beneficient has agreed to finance liquidity transactions for funds managed by ff Venture Capital, demonstrating its commitment to providing flexible, customized liquidity solutions.
The company's subsidiary, Beneficient Fiduciary Financial, L.L.C., operates under the Kansas Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is regulated by the Kansas Office of the State Bank Commissioner.
Beneficient's financial condition remains robust with substantial engagements and agreements that boost its market position. The company's unique business model offers public market investors exposure to over 250 globally diversified private market funds, spanning various asset classes including private equity, real estate, natural resources, debt, and venture capital.
For more updates and detailed financial information, visit www.trustben.com or follow Beneficient on LinkedIn.
Beneficient (NASDAQ: BENF) has appointed Louise Jones as Managing Director of Capital Markets and Custody Operations. This hiring aligns with the company's recent acquisition of Mercantile Bank International Corp., an International Financial Entity. Jones will oversee Mercantile Bank's integration and lead the expansion of the company's fee-based alternative asset custody business, including launching a depositary receipt companion business line.
Jones brings four decades of Wall Street experience, notably as the youngest woman to hold a New York Stock Exchange seat. She previously co-founded Cassidy, Jones & Co., Inc., a major NYSE floor brokerage operation, later sold to Sungard Global. Her experience includes roles at Merrill Lynch and Exworks Capital. Jones holds FINRA-registered licenses Series 7, 27, 63 and 66.
Beneficient (NASDAQ: BENF) has announced an agreement to acquire Mercantile Bank International, a Puerto Rico-based International Financial Entity (IFE), for $1.5 million through a combination of approximately 2.1 million shares of Class A common stock and cash.
The acquisition aims to expand Ben's alternative asset custody services and enable the company to offer enhanced custody and fee-based services. As an IFE licensed by Puerto Rico's OCIF, Mercantile Bank can provide banking and financial services to non-Puerto Rico residents globally.
Upon closing, expected in Q2 2025 subject to OCIF approval, Ben plans to expand its custody services to large institutional investors and third-party alternative trading systems. The company anticipates generating custody and depositary receipt issuance fee-based revenue starting in 2025.
Beneficient (NASDAQ: BENF), a technology-enabled platform providing exit solutions and capital services for alternative asset holders through its AltAccess platform, will present at the Emerging Growth Conference on December 4, 2024. The company's webcast presentation is scheduled for 10:15 AM Eastern Time.
Investors can register for the conference through the provided link. For those unable to attend live, an archived webcast will be available on EmergingGrowth.com and the Emerging Growth YouTube Channel after the event.
Beneficient (BENF), a technology platform providing liquidity and trust services for alternative assets, has successfully regained compliance with two Nasdaq listing requirements. The company met both the Stockholders' Equity Requirement under Rule 5550(b)(1) and the Audit Committee Requirement under Rule 5605(c)(2). As a result, Beneficient's securities will continue to be listed and traded on the Nasdaq Stock Market.
Beneficient (BENF) has appointed Karen J. Wendel as an independent member of its Board of Directors effective November 21, 2024. Wendel, currently President and CEO of TrustChains, will serve on the Audit, Products and Related Party Transactions, and Enterprise Risk committees. She brings extensive experience in banking, technology M&A, cybersecurity, private equity, corporate governance, risk management, and blockchain/DeFi. With a background in Economics and International Relations, Wendel has served as CEO of four companies and has led major transformational projects across multiple industries, particularly in financial services and cybersecurity.
Beneficient (Nasdaq: BENF) announced that its subsidiary Beneficient Company Holdings has completed a transaction to redesignate approximately $35 million of preferred equity as non-redeemable, effectively adding this amount as permanent equity to its balance sheet. Following this transaction, the Company believes it has achieved stockholders' equity of at least $2.5 million, meeting Nasdaq's Minimum Stockholders' Equity Requirement, though final compliance determination remains subject to Nasdaq's review.
Beneficient (BENF) provided an update to Kansas Joint Committee on its operations and economic development activities under the TEFFI Act. The company reported its second consecutive quarter of positive diluted EPS through September 30, 2024, and received board authorization for up to $5 billion in fiduciary financings. A key highlight includes the development of a new grocery store project in Hesston, KS, operated by White's Foodliner. The Act's proceeds have funded over 70 microgrants totaling nearly $3 million for Kansas communities with populations under 5,000. The company also completed a transaction reclassifying preferred equity, increasing permanent equity by $126 million.
Beneficient (NASDAQ:BENF), a technology platform providing solutions for alternative asset holders through its AltAccess platform, announces its participation in the upcoming Virtual Investor Summit Microcap Conference on November 21, 2024. The company will deliver a presentation from 10:00 AM to 10:30 AM ET and offer one-on-one meeting opportunities throughout the day.
The conference features 40 micro-cap companies with catalysts and strong market performance. The event includes live Q&A sessions and is complimentary for qualified investors, who can register through the provided link.
Beneficient (NASDAQ: BENF) reported its second consecutive profitable quarter for Q2 fiscal 2025. Revenue increased to $8.6 million compared to $(42.8) million in Q2 fiscal 2024. The company's investments fair value reached $335.0 million, up from $329.1 million at the end of the prior fiscal year. Operating expenses declined to $22.3 million, including a $0.3 million non-cash goodwill impairment. The company improved its permanent equity position from a deficit of $148.3 million to $13.2 million through redesignating approximately $125.5 million of temporary equity to permanent equity.
Beneficient (NASDAQ: BENF), a technology-enabled platform providing alternative asset solutions, has scheduled its Second Quarter Fiscal 2025 financial results release for Thursday, November 14, 2024. The company will host a webcast presentation of the results on Friday, November 15, 2024 at 8:00 a.m. EST. Investors can access the webcast through the company's investor relations website at shareholders.trustben.com, with registration required at least ten minutes before the start time. A replay will be available on the website after the presentation.
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