Beneficient Adjourns Annual Meeting of Stockholders
Rhea-AI Summary
Beneficient (NASDAQ: BENF), a tech platform providing exit solutions and capital services for alternative asset holders through its AltAccess platform, has announced an adjournment of its Annual Meeting of Stockholders.
The meeting, previously scheduled for April 30, 2025, has been postponed to May 28, 2025 at 8:00 a.m. Central time due to insufficient quorum. The virtual meeting will be held at cstproxy.com/beneficient/2025.
Stockholders who haven't voted can do so until May 27, 2025, at 11:59 p.m. Central time through:
- Internet: cstproxyvote.com
- Phone: 1-866-894-0536
- Mail: Corporate Secretary, Beneficient, Dallas, Texas
Previously submitted proxies remain valid unless revoked. The Board maintains that all proxy statement proposals are in stockholders' best interests.
Positive
- None.
Negative
- Insufficient stockholder participation to reach quorum for Annual Meeting
- Second adjournment of Annual Meeting indicates potential shareholder disengagement
- Delay in important corporate governance decisions due to meeting postponement
News Market Reaction 1 Alert
On the day this news was published, BENF gained 1.07%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
DALLAS, April 30, 2025 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ: BENF) (“Beneficient,” “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 today that the Company’s Annual Meeting of Stockholders, which had been previously adjourned to 9:00 a.m. Central time today, April 30, 2025, has been once again adjourned to allow for more time for stockholders to vote.
At this time, there were not present, by remote communication or by proxy, a sufficient number of shares of the Company’s common stock to constitute a quorum. The Company’s Board of Directors continues to believe that that all of the proposals contained in the proxy statement are advisable and in the best interests of the Company’s stockholders to consider and act upon. Therefore, the Company adjourned the Annual Meeting.
The meeting has been scheduled to reconvene on May 28, 2025 at 8:00 a.m. Central time and will be held virtually online at https://www.cstproxy.com/beneficient/2025.
During the period of the adjournment, the Company will continue to solicit proxies from its stockholders with respect to the proposals set forth in the Company’s proxy statement. Proxies previously submitted in respect to the Annual Meeting will be voted at the reconvened meeting unless properly revoked, and stockholders who have previously submitted a proxy or otherwise voted need not take any action unless they wish to change their vote.
The Company encourages all stockholders who have not yet voted to do so before May 27, 2025 at 11:59 p.m. Central time. The stockholders may vote by internet at https://www.cstproxyvote.com, or by telephone at 1 (866) 894-0536, or by returning a properly executed proxy card to Corporate Secretary, Beneficient, at 325 N. Saint Paul Street, Suite 4850, Dallas, Texas 75201.
About Beneficient
Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to democratize the global alternative asset investment market by providing traditionally underserved investors − mid-to-high net worth individuals, small-to-midsized institutions and General Partners seeking exit options, anchor commitments and valued-added services for their funds− with solutions that could help them unlock the value in their alternative assets. Ben’s AltQuote™ tool provides customers with a range of potential exit options within minutes, while customers can log on to the AltAccess® portal to explore opportunities and receive proposals in a secure online environment.
Its subsidiary, Beneficient Fiduciary Financial, L.L.C., received its charter under the State of Kansas’ Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is subject to regulatory oversight by the Office of the State Bank Commissioner.
Additional Information and where to find it
The Company has filed a definitive proxy statement and associated proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for the Annual Meeting of Stockholders of the Company (the “Annual Meeting”). The Company, its directors, its executive officers and certain other individuals set forth in the definitive proxy statement will be deemed participants in the solicitation of proxies from shareholders in respect of the Annual Meeting. Information regarding the names of the Company’s directors and executive officers and certain other individuals and their respective interests in the Company by security holdings or otherwise are set forth in the definitive proxy statement filed with the SEC on March 21, 2025. BEFORE MAKING ANY VOTING DECISION, STOCKHOLDERS OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING THE DEFINITIVE PROXY STATEMENT AND ANY SUPPLEMENTS THERETO AND ACCOMPANYING PROXY CARD, BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors and shareholders can obtain a copy of the documents filed by the Company with the SEC, including the definitive proxy statement, free of charge by visiting the SEC’s website, www.sec.gov. The Company’s stockholders can also obtain, without charge, a copy of the definitive proxy statement and other relevant filed documents when available from the Company’s website at www.trustben.com.
Contact
investors@beneficient.com
FAQ
When is Beneficient (BENF) rescheduled annual stockholder meeting?
Why did Beneficient (BENF) adjourn their April 30, 2025 stockholder meeting?
How can BENF stockholders vote before the May 28, 2025 meeting?
Do BENF shareholders need to revote if they already submitted their proxy?
What is Beneficient's (BENF) AltAccess platform?
