Beneficient (BENF) Consummates Transaction to Increase Permanent Equity by $126M
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Beneficient Consummates Transaction to Increase Permanent Equity by $126 Million
October 4, 2024 7:00 AM EDTDALLAS, 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 Companys founders holding the majority of the preferred equity, Beneficient expects approximately $126 million of temporary equity to be reclassified to permanent equity on its balance sheet as of September 30, 2024.
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