Beneficient adds $35M of equity to balance sheet

Beneficient (BENF) announces that its subsidiary, Beneficient Company Holdings, consummated a previously announced transaction pursuant to which approximately $35M of its preferred equity was redesignated as non-redeemable, resulting in the addition of approximately $35M of permanent equity on its balance sheet. As a result of the transaction, the company believes it now has stockholders’ equity of at least $2.5M, the amount required to regain compliance with Nasdaq’s Minimum Stockholders’ Equity Requirement. The company’s compliance with Nasdaq’s Minimum Stockholders’ Equity Requirement is subject to Nasdaq’s final determination.