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Beneficient (BENF) investor relations material
Beneficient Registration Filing summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Registration Filing summary23 Dec, 2025
Company overview and business model
The company offers Series B Resettable Convertible Preferred Stock to institutional investors as part of its ExAlt Plan structure, facilitating alternative asset liquidity and primary capital solutions.
Each offering is structured to fund a capital commitment to a fund via a trust, with the investor receiving preferred shares convertible into Class A Common Stock.
The preferred shares are issued at $10.00 per share, with conversion features and anti-dilution protections, and are part of a broader strategy to provide liquidity to alternative asset investors.
The offering is conducted as a private placement under Rule 506(c) of Regulation D, limited to accredited investors.
Offering details and pricing
The preferred shares are convertible into Class A Common Stock at a conversion price set by a five-day trailing VWAP at closing, subject to monthly resets and a floor price.
Conversion is subject to a 4.99% beneficial ownership cap, which can be increased to 9.99% at the investor's discretion.
The total number of shares issuable upon conversion is capped at 20% of the company’s outstanding Class A and Class B Common Stock, unless shareholder approval is obtained.
The preferred shares are non-voting except for certain protective provisions and have dividend rights on an as-converted basis.
The company will not receive cash proceeds from the sale; proceeds are used to fund the trust’s capital commitment to the fund.
AltAccess Securities Company, L.P., an affiliate, acts as managing dealer and placement agent, receiving up to 2.9% of the offering as a fee, payable in cash and/or Class A Common Stock.
Use of proceeds and capital allocation
No cash proceeds are received by the company; the offering is structured to fulfill the trust’s capital commitment to the fund.
The company reserves the right to issue additional preferred shares in subseries at its discretion.
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Next Beneficient earnings date
Q3 202612 Feb, 2026
Next Beneficient earnings date
Q3 202612 Feb, 2026
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Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
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Frequently asked questions
Beneficient is a technology-enabled financial services company that offers liquidity solutions and related fiduciary, custody, and trust administrative services primarily for participants in the alternative asset industry in the United States. The company operates through several segments, including Ben Liquidity, Ben Custody, and Customer ExAlt Trusts. It provides products and services like alternative asset liquidity, fiduciary financing, custody, trust administration, and broker-dealer services, facilitated by its secure online platform, Ben AltAccess. Beneficient serves a variety of clients, including individual and institutional investors, wealth advisors, and general partners. The company is headquartered in Dallas, Texas, and its shares are listed on the NASDAQ.
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