Beneficient - BENF STOCK NEWS

Beneficient (NASDAQ: BENF) has appointed Patrick J. Donegan as an independent member of its Board of Directors, effective September 30, 2024. Donegan, with nearly 30 years of compliance, legal, banking, and capital markets experience, will serve on the Audit, Products and Related Party Transactions, Credit, and Enterprise Risk committees. He brings extensive expertise in regulatory compliance, particularly in the FinTech industry, holding eleven FINRA licenses and various certifications.

Donegan's professional background includes roles as Chief Compliance Officer at OKX Group and Signature Bank, as well as positions at major investment banks. His appointment aligns with Beneficient's commitment to operating with industry best practices, as stated by CEO and Chairman Brad Heppner. Donegan's expertise in risk identification and management is expected to contribute significantly to the company's governance and regulatory compliance efforts.

Beneficient (NASDAQ: BENF), a technology-enabled financial services holding company, has announced the completion of a previously disclosed transaction. The deal involves the redesignation of approximately $126 million of preferred equity held by its subsidiary, Beneficient Company Holdings, L.P., as non-redeemable.

This transaction, which was approved by the Company's founders holding the majority of the preferred equity, is expected to result in the reclassification of about $126 million from temporary equity to permanent equity on Beneficient's balance sheet as of September 30, 2024. This move is anticipated to strengthen the Company's financial position by increasing its permanent equity.

Beneficient (NASDAQ: BENF) reported its Q1 fiscal 2025 results, ending June 30, 2024. Key highlights include:

- First profitable quarter as a public company
- Revenues of $10.0 million, up from $(2.7) million in Q1 fiscal 2024
- Operating expenses of $(34.3) million, including a $55.0 million release of loss contingency accrual
- Investments with fair value of $331.4 million, up from $329.1 million at fiscal year-end
- Maintained GP Preferred Liquidity Provider Program at 20 funds and $1.5 billion in committed capital
- Introduced machine-automated pricing system (MAPS) to reduce transaction timeframes from 15 months to 15 days
- Board authorized ExchangeTrust Product Plan of up to $5 billion in fiduciary financings

The company aims to position itself as the leading solution for liquidity and primary capital in private investment markets.

Beneficient (NASDAQ: BENF) has announced significant upgrades to its AltAccess® fintech platform, introducing the Machine-Automated Pricing System (MAPS). This new system incorporates a formula-based pricing model for qualified fiduciary financings, optimizing dynamic pricing and real-time net asset valuations of alternative assets. MAPS is designed to accelerate transaction processing, potentially reducing the time-to-close for liquidity transactions from 30 days to 15 days or less.

The enhanced platform aims to address approximately $400 billion in market demand for liquidity restructuring solutions and primary capital. Initially, MAPS will be implemented in Ben's General Partner Solutions group, particularly the GP Primary Commitment Program, with plans to expand across other target markets. This innovation is expected to significantly enhance Ben's operational capacity and ability to scale the delivery of liquidity and primary capital solutions for various alternative assets.

Beneficient (NASDAQ: BENF), a technology-enabled financial services holding company, has announced its participation in the Sidoti Micro-Cap Virtual Conference on August 14-15, 2024. The company, which provides liquidity and related services for alternative asset holders, will present on Thursday, August 15, 2024, at 2:30 p.m. EDT.

Investors can register for the conference and Beneficient's presentation through provided links. Additionally, conference participants can request one-on-one meetings with the company via their Sidoti representative or by contacting Beneficient's investor relations directly at investors@beneficient.com.

Beneficient (NASDAQ: BENF), a technology-enabled financial services holding company, has announced the release of its First Quarter Fiscal 2025 financial results. The company, which provides liquidity, primary capital solutions, and related trust and custody services for alternative asset holders, will disclose its earnings after market close on Wednesday, August 14, 2024. Following the release, Beneficient will host a webcast at 4:30 p.m. EDT to present the results. Investors and interested parties can access the webcast through the company's investor relations website at shareholders.trustben.com. Attendees are advised to register at least ten minutes before the scheduled start time. For those unable to attend live, a replay of the webcast will be made available on the company's website shortly after the presentation.

Beneficient (NASDAQ: BENF) has entered into a $4 million private placement agreement with YA II PN, (Yorkville). The deal involves issuing convertible debentures and warrants to purchase up to 1,325,382 shares of BENF's Class A common stock at $2.63 per share. Initially, $2 million in debentures and warrants for 662,691 shares were issued, with the remainder to follow after SEC registration.

The convertible debentures mature on February 6, 2025, carry no interest (unless in default), and can be redeemed early at a premium. They're issued at a 10% discount. BENF plans to use the proceeds for general corporate purposes. This at-the-market offering under Nasdaq rules provides BENF with additional capital while offering Yorkville potential equity participation.

Beneficient (NASDAQ: BENF), a technology-enabled platform offering solutions for alternative asset holders, has joined the B2i Digital family of featured companies. This partnership aims to increase awareness of Beneficient's unique position in the financial services sector and its mission to democratize the global alternative asset investment market.

B2i Digital will leverage its targeted marketing expertise to highlight Beneficient's offerings, which include exit option solutions, primary capital solutions, and related trust and custody services. This collaboration is expected to enhance Beneficient's visibility and potentially attract more investors and clients interested in alternative asset management solutions.

Beneficient (NASDAQ: BENF) reported its financial results for the fiscal year ending March 31, 2024. Key highlights include substantial growth in their GP Preferred Liquidity Provider Program, now encompassing 20 funds and $1.5 billion in committed capital. However, the company faced significant financial setbacks, including an operating loss of $1.8 billion for the year and a 33.8% decline in investments. Operating expenses increased to $151.9 million in Q4, driven by a non-cash goodwill impairment of $68.1 million and a recognized loss contingency of $55 million. Revenue for Ben Custody and Ben Liquidity segments also declined. Despite challenges, the company plans to expand its Preferred Liquidity Provider Program and launch new products to drive growth in fiscal 2025.