Core Viewpoint - Beneficient has announced a Limited Conversion of Preferred A-1 Unit Accounts into Class A common stock, demonstrating leadership's commitment to the company's long-term success and aligning interests with stockholders [1][4][5] Group 1: Limited Conversion Details - Thomas O. Hicks and James G. Silk converted approximately $48.0 million and $4.6 million of Preferred A-1 Unit Accounts into shares of Common Stock, resulting in the issuance of 92,485,639 and 8,808,649 shares respectively [1][4] - The conversion led to a voting and lock-up agreement, where Hicks and Silk will vote the Conversion Shares in favor of the Board's recommendations and the shares will be locked up until October 1, 2028 [3][4] Group 2: Compliance with Nasdaq Requirements - The company was notified by Nasdaq that it did not meet the minimum stockholders' equity requirement but is seeking to comply with the market value of listed securities requirement, which necessitates a market value of $35 million or greater [2] Group 3: Strategic Implications - The voluntary conversion signifies a commitment to the company's long-term success and aims to simplify its capital structure, while also deferring market dilution due to the lock-up agreement [4][5]

DALLAS, Sept. 16, 2025 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ: BENF) (the “Company”), a technology-enabled platform providing exit opportunities and primary capital solutions and related trust and custody services to holders of alternative assets through its proprietary online platform AltAccess, today announced that, by letter dated September 9, 2025, the Company was notified by The Nasdaq Stock Market LLC (“Nasdaq”) that the Nasdaq Hearings Panel (the “Panel”) had granted the Company’s request for contin ...

Core Points - Beneficient (NASDAQ: BENF) has been notified by Nasdaq regarding potential delisting due to delays in filing its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, which violates Nasdaq's periodic reporting requirements [1] - The company has previously faced issues with non-compliance related to the minimum bid price requirement and delays in filing its Annual Report on Form 10-K for the fiscal year ended March 31, 2025, which also put its securities at risk of delisting [2] - Beneficient has requested a hearing before the Nasdaq Hearings Panel to present its compliance plan and seek an extension for meeting the listing criteria [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 to unlock value in their alternative assets [4] - The company's AltQuote tool offers customers various exit options quickly, while the AltAccess portal allows secure exploration of opportunities and proposals [4] - Beneficient's subsidiary, Beneficient Fiduciary Financial, L.L.C., operates under the Kansas Technology-Enabled Fiduciary Financial Institution Act and is regulated by the Office of the State Bank Commissioner [5]

Core Viewpoint - Beneficient is facing potential delisting from Nasdaq due to non-compliance with minimum bid price and delayed filing of its Annual Report, and plans to request a hearing to address these issues [1][2] Group 1: Company Compliance and Actions - The Company was notified by Nasdaq regarding its non-compliance with the minimum $1.00 bid price requirement and the delay in filing its Annual Report for the fiscal year ended March 31, 2025 [1] - Beneficient intends to request a hearing to present its compliance plan and seek an extension for meeting Nasdaq's listing criteria [2] - The Company is taking steps to demonstrate compliance with applicable listing criteria as soon as possible, although there is no guarantee that the request for continued listing will be granted [2] Group 2: Company Overview - Beneficient operates a technology-enabled platform aimed at providing exit opportunities and capital solutions for holders of alternative assets through its online platform AltAccess [1][3] - The Company targets mid-to-high net worth individuals, small-to-midsized institutions, and General Partners, offering tools like AltQuote for potential exit options [3] - Beneficient's subsidiary, Beneficient Fiduciary Financial, L.L.C., is regulated under the Kansas TEFFI Act [4]