Beneficient reports Q3 EPS ($1.32) vs. ($158.36) last year

Reports Q3 adjusted revenue $4.43M vs. $8.46M last year. Beneficient (BENF) management said: “Our fiscal Q3 was focused on key steps that we believe will ready Ben for significant new activities in delivering liquidity, primary capital and digital asset markets solutions – which we believe are all opportunities to disrupt and enhance the solutions available to large financial audiences. During the fiscal Q3, we also closed our first primary capital transaction and are seeking additional opportunities. A complementary part of our plan is the proposed acquisition of Mercantile Bank, a Puerto Rico-based International Financial Entity, which is expected to enable Ben to offer an expanded range of digital asset market solutions and companion custody, clearing and control account fee-based services…Additionally, we are pleased to have continued to strengthen our capital structure, increasing our permanent equity by $35M through a re-designation of certain preferred equity. Furthermore, we executed an agreement to complete additional transactions designed to revise the liquidation priority of Beneficient Company Holdings, and deliver other benefits to our public company stockholders provided by entities controlled by our founders, which are expected to become increasingly visible as the company enters into more liquidity and primary capital transactions.”