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 sec ...

DALLAS, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Beneficient (Nasdaq: BENF) (“Ben” or the “Company”), a technology-enabled financial services holding company announces that its subsidiary Beneficient Company Holdings, L.P. consummated a previously announced transaction pursuant to which approximately $35 million of its preferred equity was redesignated as non-redeemable, resulting in the addition of approximately $35 million of permanent equity on its balance sheet. As a result of the transaction, the Company beli ...

DALLAS, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Beneficient (Nasdaq: BENF) (“Ben” or the “Company”), a technology-enabled financial services holding company, today announced the appointment of Karen J. Wendel as an independent member of the Company’s Board of Directors as of November 21, 2024. In addition to being an independent director, she was appointed to serve on the Audit, Products and Related Party Transactions and Enterprise Risk committees of the Board. Ms. Wendel is the President and CEO of TrustChains, ...

DALLAS, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), whose subsidiary Beneficient Fiduciary Financial, L.L.C., is a Technology-Enabled Fiduciary Financial Institution (TEFFI) today provided an update to the State of Kansas Joint Committee on Fiduciary Financial Institutions Oversight about its business operations, the digital innovation occurring in the alternative asset industry and related economic development activity for the benefit of Kansas communities under t ...

Table of Contents Table of Contents Table of Contents Table of Contents CONSOLIDATED Six Months Ended September 30, 2024 and 2023 and derivative liability. Loss on financial instruments, net for the six months ended September 30, 2023 was primarily driven by a $41.8 million decrease in the value of our interests in the GWG Wind Down Trust. Such decrease is net of a $13.7 million gain recognized upon reclassification of unrealized net gains related to the Company's previously classified available-for-sale de ...

Reports Second Quarter of Positive GAAP Net Income Maintains Cost Efficient Operating Profile DALLAS, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a technology-enabled financial services holding company that provides liquidity and related trust and custody services to holders of alternative assets, today reported its financial results for the fiscal 2025 second quarter, which ended September 30, 2024. Commenting on the fiscal 2025 second quarter results, Beneficient ...

Core Viewpoint - Beneficient (NASDAQ: BENF) is set to release its Second Quarter Fiscal 2025 financial results on November 14, 2024, followed by a webcast presentation on November 15, 2024, at 8:00 a.m. Eastern Standard Time [1]. Company Overview - Beneficient aims to democratize the global alternative asset investment market by providing solutions to traditionally underserved investors, including mid-to-high net worth individuals and small-to-midsized institutions [3]. - The company offers a proprietary online platform, AltAccess, which allows customers to explore exit opportunities and receive proposals securely [3]. - Beneficient's AltQuote™ tool provides customers with a range of potential exit options within minutes [3]. Regulatory Information - Beneficient Fiduciary Financial, L.L.C., a subsidiary of Beneficient, has received its charter under the State of Kansas' Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is regulated by the Office of the State Bank Commissioner [4].

DALLAS, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ: BENF) ("Ben" or the "Company"), a technology-enabled financial services holding company announces that its subsidiary Beneficient Company Holdings, L.P. consummated a previously announced transaction pursuant to which approximately $126 million of its preferred equity was redesignated as non-redeemable. As a result of the transaction, which was approved by the Company's founders holding the majority of the preferred equity, Beneficient expects a ...

DALLAS, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ: BENF) ("Ben" or the "Company"), a technology-enabled financial services holding company, today announced the appointment of Patrick J. Donegan as an independent member of the Company's Board of Directors as of September 30, 2024. In addition to being an independent director, he was appointed to serve on the Audit, Products and Related Party Transactions, Credit and Enterprise Risk committees of the Board. Mr. Donegan brings almost thirty years o ...

Financial Data and Key Metrics Changes - The company reported investments with a fair value of $331.4 million, up from $329.1 million at the end of the previous fiscal year [21] - Revenues for Q1 2025 were $10.0 million, compared to a negative $2.7 million in Q1 2024, largely due to a release of a recognized loss contingency accrual of $55.0 million [21][22] - Operating expenses decreased by 70% to $17.3 million in Q1 2025 from $56.9 million in Q1 2024 [21] Business Line Data and Key Metrics Changes - **Ben Liquidity**: Recognized $10.8 million in base interest revenue, up 1.9% from the prior quarter, with an operating loss of $0.5 million compared to an operating loss of $29.4 million in the previous quarter [22] - **Ben Custody**: NAV of alternative assets was $380.7 million, slightly down from $381.2 million, with revenues of $5.4 million, down from $5.6 million in the prior quarter [23] Market Data and Key Metrics Changes - The unmet demand for liquidity in the U.S. alternative asset market is estimated at over $61 billion annually, projected to grow to more than $100 billion within the next five years [14] - The market for general partners seeking liquidity for restructurings exceeds $100 billion annually, indicating a significant opportunity for the company [14] Company Strategy and Development Direction - The company aims to address the $400 billion market demand for liquidity restructuring solutions and primary capital commitments through its fintech platform, Ben AltAccess, and the newly launched Machine Automated Pricing System (MAPS) [10][15] - The company is focused on scaling its capital in line with the demand for liquidity and primary capital products, enhancing its balance sheet over time [17] Management's Comments on Operating Environment and Future Outlook - Management highlighted a positive legal update, including the vacating of a $55.3 million arbitration award, which is expected to improve the company's financial position [18] - The SEC has terminated its investigation into the company, which is seen as a positive development for future operations [19] Other Important Information - The company has been listed on NASDAQ for a year, increasing market visibility and confidence among target audiences [11] - The custody business returned to profitability in the quarter ending June 30 [12] Q&A Session Summary - The call concluded without a formal Q&A session, as the operator indicated that participants could disconnect after the financial update [25]