Beneficient enters into $1.36M GP primary capital transaction

Beneficient (BENF) has closed on the financing of a $1.36M primary capital commitment for 8F Fund, a fund managed by 8F Asset Management, a global asset manager that manages private equity funds that invest in vertically integrated aquaculture production and processing facilities. The transaction represents Ben’s first GP Primary transaction since its recently announced Public Stockholder Enhancement Transactions. In exchange for an interest in the Fund, the Fund received approximately $1.36M 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 Company’s ExAlt loan portfolio is expected to increase by approximately $1.36M of interests in alternative assets. Upon closing of the previously announced Public Stockholder Enhancement Transactions, the Company believes this transaction will result in the addition of approximately $450K of tangible book value attributable to the Company’s stockholders. Beneficient’s GP Primary Commitment Program is focused on providing primary capital solutions and financing anchor commitments to general partners during their fundraising efforts while immediately deploying capital into our equity. Through the program, Beneficient seeks to help satisfy the up to $330B of potential demand for primary commitments to meet fundraising needs.