Beneficient Regains Compliance with NASDAQ Minimum Stockholders’ Equity Requirement and Audit Committee Requirement
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), una piattaforma tecnologica che fornisce servizi di liquidità e fiducia per asset alternativi, ha nuovamente ottenuto la conformità con due requisiti di quotazione del Nasdaq. L'azienda ha soddisfatto sia il Requisito Patrimoniale degli Azionisti ai sensi della Regola 5550(b)(1) sia il Requisito del Comitato di Revisione ai sensi della Regola 5605(c)(2). Di conseguenza, i titoli di Beneficient continueranno a essere quotati e negoziati presso il Nasdaq Stock Market.
Beneficient (BENF), una plataforma tecnológica que ofrece servicios de liquidez y confianza para activos alternativos, ha recuperado con éxito el cumplimiento de dos requisitos de cotización de Nasdaq. La empresa cumplió con ambos el Requisito de Patrimonio de los Accionistas bajo la Regla 5550(b)(1) y el Requisito del Comité de Auditoría bajo la Regla 5605(c)(2). Como resultado, los valores de Beneficient seguirán cotizando y negociándose en el Nasdaq Stock Market.
Beneficient (BENF), 대체 자산에 대한 유동성과 신뢰 서비스를 제공하는 기술 플랫폼이 Nasdaq 상장 요건 두 가지를 성공적으로 충족했습니다. 이 회사는 5550(b)(1) 조항에 따라 주주 자본 요건과 5605(c)(2) 조항에 따른 감사위원회 요건을 모두 충족했습니다. 그 결과, Beneficient의 증권은 Nasdaq 증권 시장에서 계속 상장되고 거래될 것입니다.
Beneficient (BENF), une plateforme technologique fournissant des services de liquidité et de confiance pour des actifs alternatifs, a réussi à retrouver sa conformité avec deux exigences de cotation de Nasdaq. L'entreprise a satisfait à la fois à l'Exigence de Capitaux Propres des Actionnaires selon la Règle 5550(b)(1) et à l'Exigence du Comité d'Audit selon la Règle 5605(c)(2). En conséquence, les titres de Beneficient continueront d'être cotés et négociés sur le marché boursier Nasdaq.
Beneficient (BENF), eine Technologieplattform, die Liquiditäts- und Vertrauensdienste für alternative Anlagen anbietet, hat erfolgreich die Einhaltung von zwei Nasdaq-Börsennotierungsanforderungen wiederhergestellt. Das Unternehmen hat sowohl die Eigenkapitalanforderung gemäß Regel 5550(b)(1) als auch die Audit-Ausschuss-Anforderung gemäß Regel 5605(c)(2) erfüllt. Infolgedessen werden die Wertpapiere von Beneficient weiterhin an der Nasdaq-Börse notiert und gehandelt.
- Regained compliance with Nasdaq listing requirements, avoiding potential delisting risk
- Secured continued listing and trading status on Nasdaq
- None.
Insights
The regained compliance with NASDAQ's listing requirements represents a critical regulatory milestone for Beneficient. Meeting the minimum stockholders' equity requirement indicates the company has strengthened its financial position, while compliance with audit committee rules demonstrates proper corporate governance structures. Maintaining NASDAQ listing status is important for investor confidence and market accessibility, as delisting can severely impact trading liquidity and institutional investment potential. This development removes a significant regulatory overhang and reduces the risk of forced selling that often accompanies delisting notices.
DALLAS, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Beneficient (the “Company”) (Nasdaq: BENF), a technology-enabled platform providing liquidity and related trust and custody services to holders of alternative assets, today 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.
For more information, visit www.trustben.com or follow on LinkedIn.
About Beneficient
Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to democratize the global alternative asset investment market by providing traditionally underserved investors − mid-to-high net worth individuals, small-to-midsized institutions and General Partners seeking exit options, anchor commitments and valued-added services for their funds − with solutions that could help them unlock the value in their alternative assets. Ben’s AltQuote™ tool provides customers with a range of potential exit options within minutes, while customers can log on to the AltAccess® portal to explore opportunities and receive proposals in a secure online environment.
Its subsidiary, Beneficient Fiduciary Financial, L.L.C., received its charter under the State of Kansas’ Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is subject to regulatory oversight by the Office of the State Bank Commissioner.
For more information, visit www.trustben.com or follow Beneficient on LinkedIn.
Forward-Looking Statements
This communication includes forward-looking statements as defined under U.S. federal securities laws. Forward-looking statements include all statements that are not historical statements of fact, including related to statements about the continued listing of the Company’s securities on Nasdaq. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “will,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to significant risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this release. It is not possible to predict or identify all such risks. These risks include, but are not limited to, our ability to maintain compliance with Nasdaq listing standards and the risk factors that are described under the section titled “Risk Factors” in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents we file with the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Contacts
Matt Kreps: 214-597-8200, mkreps@darrowir.com
Michael Wetherington: 214-284-1199, mwetherington@darrowir.com
Investor Relations: investors@beneficient.com
FAQ
What Nasdaq requirements did Beneficient (BENF) regain compliance with in November 2023?
Will Beneficient (BENF) continue trading on Nasdaq after regaining compliance?
What are the specific Nasdaq rules Beneficient (BENF) complied with?
