Beneficient enters $3M GP Primary Capital transaction

Beneficient (BENF) closed on the financing of an approximately $3M primary capital commitment for Cork & Vines Fund I, a fund managed by Cork & Vines GP, LP, an asset manager investing in opportunities within the premium experiential, luxury dining segment with a differentiated culinary and strategic wine program focus. The transaction follows the Company’s initial GP Primary Capital transaction with Cork & Vines that closed in early 2025. In exchange for an interest in the Fund, the Fund received approximately $3M in stated value of shares of the Company’s Resettable Convertible Preferred Stock, which is convertible at the election of the holder into shares of the Company’s Class A common stock, subject to the terms and conditions of the transaction documents. As a result of the transaction, the collateral for the Company’s ExAlt loan portfolio is expected to increase by approximately $3M of interests in alternative assets.