DALLAS, Jan. 21, 2026 (GLOBE NEWSWIRE) -- Beneficient (Nasdaq: BENF), a technology-enabled platform providing exit opportunities and primary capital solutions and related trust and custody services to holders of alternative assets, today announced that the United States District Court for the Northern District of Texas (the “District Court”) has approved the previously disclosed settlement agreement resolving all claims pending in the District Court under the previously disclosed lawsuits relating to GWG Ho ...

Core Viewpoint - Beneficient has successfully repaid approximately $27.5 million in loans, fulfilling 100% of the outstanding principal owed to a Texas state bank, which reflects the company's commitment to strengthening its balance sheet and reducing leverage [1][3][4]. Group 1: Loan Repayment Details - The repayment of $27.5 million was completed approximately ten months ahead of the original maturity date [2]. - The company still owes approximately $1.66 million to Hicks Holdings for interest and fees, which it plans to pay over time based on mutually agreed terms [2][3]. Group 2: Financial Strategy and Impact - The early repayment is seen as a significant milestone for Beneficient, emphasizing its disciplined approach to capital management [4]. - The elimination of this debt is expected to enhance the company's financial flexibility and support its strategic priorities [3][4]. Group 3: Company Overview - Beneficient aims to democratize the global alternative asset investment market by providing solutions to underserved investors, including mid-to-high net worth individuals and small-to-midsized institutions [5]. - The company's subsidiary, Beneficient Fiduciary Financial, L.L.C., operates under the regulatory framework of the State of Kansas [6].

Core Insights - Beneficient congratulated 15 Kansas communities for receiving a total of $337,833 in SEED grants aimed at strategic economic expansion and development [1][3] - The SEED program is funded through the Kansas Technology-Enabled Fiduciary Financial Institutions (TEFFI) Act, under which Beneficient's subsidiary received the first TEFFI charter in the state [2][4] - Since its inception in 2021, the SEED program has allocated over $3.5 million to Kansas communities, enhancing quality-of-life projects [3] Funding and Contributions - The 2025 SEED grants, combined with local matching contributions, amount to nearly $1.1 million in total investment for small communities with populations under 5,000 [3][5] - Awardees are required to provide at least a 10% match and complete their projects within 12 months, leveraging over $744,000 in local contributions [5] Company Mission and Operations - Beneficient aims to democratize the global alternative asset investment market by providing solutions for mid-to-high net worth individuals and small-to-midsized institutions [6] - The company plays a significant role in supporting local initiatives such as childcare, community spaces, and food access through its TEFFI Development and Expansion Fund [4][6]

Core Insights - Beneficient has successfully closed a financing of approximately $3 million for Cork & Vines Fund I, LP, enhancing its capital solutions for holders of alternative assets [1][2] - The transaction involves the issuance of shares of Beneficient's Resettable Convertible Preferred Stock, which can be converted into Class A common stock, thereby increasing the collateral for the ExAlt loan portfolio by the same amount [2][3] - The GP Primary Commitment Program aims to provide primary capital solutions to general partners, addressing a potential demand of up to $330 billion for fundraising needs in the alternative asset market [3] Company Overview - Beneficient is focused on democratizing the global alternative asset investment market, targeting mid-to-high net worth individuals and small-to-midsized institutions [4] - The company offers exit options, anchor commitments, and value-added services to help investors unlock the value in their alternative assets [4] - Beneficient Fiduciary Financial, a subsidiary, operates under the Kansas Technology-Enabled Fiduciary Financial Institution Act, ensuring regulatory oversight [5]

Core Viewpoint - Beneficient has regained compliance with Nasdaq listing requirements, indicating a positive development for the company and its investors [1]. Company Overview - Beneficient (Nasdaq: BENF) aims to democratize the global alternative asset investment market by providing solutions for mid-to-high net worth individuals, small-to-midsized institutions, and general partners seeking exit options and value-added services [2]. Regulatory Compliance - The company’s subsidiary, Beneficient Fiduciary Financial, L.L.C., has received its charter under the Kansas Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is regulated by the Office of the State Bank Commissioner [3].

Core Viewpoint - Beneficient has appointed Peter T. Cangany Jr. as Chairman of the Board, effective December 15, 2025, to enhance its leadership and strategic direction [1]. Group 1: Leadership Appointment - Peter T. Cangany Jr. has been a director of Beneficient and Chairman of its independent Audit Committee since 2019, bringing extensive experience in financial reporting and corporate governance [2]. - Cangany retired as a partner of Ernst & Young LLP in 2017 after nearly 40 years, specializing in auditing public companies in the financial services sector [3]. - Interim CEO James Silk highlighted Cangany's expertise in financial services and governance as critical for driving long-term value for shareholders [4]. Group 2: Cangany's Background - Cangany has a strong background in advising early-stage and growth-oriented businesses, with significant experience in strategic planning and board oversight [4]. - He holds a B.A. in Accounting from Franklin College and an M.B.A. from Texas A&M University, and is a Certified Public Accountant [5]. Group 3: Company Overview - Beneficient aims to democratize the global alternative asset investment market by providing solutions for mid-to-high net worth individuals and small-to-midsized institutions [6]. - The company's subsidiary, Beneficient Fiduciary Financial, L.L.C., operates under the Technology-Enabled Fiduciary Financial Institution Act and is regulated by the Office of the State Bank Commissioner [7].

Core Viewpoint - Beneficient announced a 1-for-8 reverse stock split of its Class A and Class B common stock to regain compliance with Nasdaq's minimum bid price requirement [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will combine every eight shares of Beneficient's common stock into one share, reducing the number of shares outstanding significantly [3][5]. - Post-split, the number of issued and outstanding Class A Common Stock will decrease from approximately 110,758,536 to about 13,844,817, and Class B Common Stock will decrease from approximately 239,256 to about 29,907 [5]. - The authorized shares of Class A Common Stock will be reduced from 5,000,000,000 to 625,000,000, and Class B Common Stock from 250,000 to 31,250 [3]. Group 2: Trading and Compliance - Beneficient's Class A Common Stock will continue to trade on Nasdaq under the symbol "BENF" on a split-adjusted basis starting December 15, 2025 [2]. - The reverse stock split is aimed at enabling Beneficient to meet Nasdaq's listing standards [2][10]. Group 3: Shareholder Impact - No fractional shares will be issued; shareholders entitled to a fractional share will receive an additional whole share instead [4]. - Registered stockholders holding shares in book-entry form will not need to take action to receive post-split shares, as adjustments will be made automatically [4].

Core Insights - Beneficient announced the passing of Thomas O. Hicks, its Chairman of the Board, on December 6, 2025, at the age of 79, recognizing his significant contributions to the company and the private equity industry [1][2]. Company Overview - Beneficient (NASDAQ: BENF) aims to democratize the global alternative asset investment market, targeting mid-to-high net worth individuals, small-to-midsized institutions, and General Partners with solutions to unlock value in alternative assets [3]. - The company operates under the regulatory framework of the Technology-Enabled Fiduciary Financial Institution (TEFFI) Act in Kansas, ensuring oversight by the Office of the State Bank Commissioner [3]. Leadership Legacy - Thomas O. Hicks co-founded Hicks & Haas in 1984 and Hicks, Muse, Tate & Furst in 1989, significantly influencing the private equity landscape with his "buy and build" strategy [4]. - Hicks served on Beneficient's Board since 2017 and became Chairman in July 2025, providing strategic guidance based on his extensive leadership experience [4]. - Beyond corporate achievements, Hicks had a notable impact on Dallas and Texas, including ownership of the Dallas Stars and Texas Rangers, and involvement in the development of the American Airlines Center [4].

Group 1 - The Special Meeting of Stockholders of Beneficient was called to order by the Interim Chief Executive Officer, James G. Silk [2] - David Ross serves as the General Counsel and Secretary of the meeting, while Leicia Savinetti from Continental Stock Transfer & Trust Company acts as the inspector of election [3] - An affidavit confirming the mailing of the meeting notice and proxy materials to stockholders was presented, indicating that the notice was sent on December 7, 2025, to stockholders of record as of October 27, 2025 [4]

Summary of Beneficient's Special Meeting Company Overview - **Company**: Beneficient (NasdaqCM: BENF) - **Meeting Date**: December 01, 2025 - **Type of Meeting**: Extraordinary General Meeting Key Points Discussed Meeting Structure and Attendance - The meeting was chaired by James G. Silk, the Interim Chief Executive Officer, with David Ross acting as Secretary [2][5] - A quorum was confirmed with 110,758,036 shares of Class A common stock and 239,257 shares of Class B common stock entitled to vote [6] Proposals Presented 1. **Reverse Stock Split Proposal** - A reverse stock split was proposed at a ratio ranging from one-for-five to one-for-one hundred, with the exact ratio to be determined by the board of directors [4] - This proposal requires approval by a majority of the voting power of the company's outstanding common stock [8] 2. **Adjournment Proposal** - A proposal to adjourn the meeting to a later date if necessary, particularly if there were insufficient votes for the reverse stock split [4] - This proposal also requires a majority of the votes cast at the meeting for approval [9] Voting Results - The preliminary count indicated sufficient votes to approve both the reverse stock split and the adjournment proposal [10] - It was determined that an adjournment was not necessary due to the approval of the reverse stock split [10] Conclusion of Meeting - The meeting concluded with no further business to discuss, and stockholders were thanked for their attendance and support [11] Additional Important Information - Stockholders were able to submit questions through the virtual meeting platform, although no questions were raised during the meeting [11] - The inspector of election's report will be filed with the minutes of the meeting, ensuring transparency in the voting process [10]