Beneficient adds Mack Hicks to board following father's passing

Beneficient (NASDAQ: BENF) appointed Mack H. Hicks to its board of directors, the Dallas-based alternative asset platform announced March 12.

Hicks serves as chief executive officer of Hicks Holdings LLC, a Dallas family office with private equity and real estate investment operations. He also serves as managing partner of Hicks Equity Partners LLC, a registered investment advisor focused on structured equity and credit investments.

The appointment follows the December 2025 death of Hicks' father, Thomas O. Hicks, who previously served as Beneficient's board chairman. Thomas Hicks was described as a private equity pioneer.

"We are honored to continue the legacy of Tom Hicks through the appointment of Mack to the Board, a highly qualified corporate executive and seasoned deal maker," said James Silk, the company's interim chief executive officer.

Mack Hicks has experience sourcing and managing corporate acquisitions across multiple sectors. He currently serves on boards of Standard Industrial Manufacturing, Bucked Up, Face Haus, Vayner Sports and Accresa Health. He holds a bachelor's degree from the University of Texas at Austin and completed Harvard Business School's Owner/President Management Program.

The company also disclosed financial arrangements with Hicks-affiliated entities. A Beneficient subsidiary previously borrowed approximately $27.5 million from HH-BDH LLC, an affiliate of Hicks, under a credit agreement entered in October 2023. The company repaid all principal amounts in full earlier this year.

On March 10, the parties amended the credit agreement to settle remaining obligations of approximately $1.66 million in accrued interest, fees and expenses. The settlement includes $572,588 in Class A common stock and deferred cash payments of $94,365 due March 31 and $1 million due September 30.

You May Also Be Interested In

• VICI Properties closes $1.75B senior unsecured notes offering
• EMA validates Pfizer and Valneva's Lyme disease vaccine application
• Vivos Therapeutics posts 35% revenue gain but widens net loss