Beneficient (BENF) to Acquire Mercantile Bank International
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Beneficient Enters into Agreement to Acquire Mercantile Bank International to Expand its Alternative Asset Custody Services
December 5, 2024 4:05 PM ESTDALLAS, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ: BENF) (Ben or 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, announced it has entered into an agreement to acquire Mercantile Bank International Corp. (Mercantile Bank), a Puerto Rico-based International Financial Entity (IFE), in exchange for an aggregate purchase price of $1.5 million, which is payable in up to approximately 2.1 million shares of the Companys Class A common stock and cash.
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