Welcome to our dedicated page for Beneficient-A SEC filings (Ticker: BENF), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Beneficient (BENF) SEC filings page brings together the company’s regulatory disclosures as a Nevada corporation listed on The Nasdaq Capital Market. Beneficient describes itself as a technology-enabled platform that provides exit opportunities, primary capital solutions, and related trust and custody services to holders of alternative assets, and its filings with the Securities and Exchange Commission offer detailed insight into how this business is structured and governed.
Through its registration statements, such as its S-1, Beneficient presents information about its capital structure, segments, and risk factors. Periodic reports referenced in its filings and press releases, including annual reports on Form 10-K and quarterly reports on Form 10-Q, discuss the performance of its Ben Liquidity and Ben Custody segments, the composition and diversification of its ExAlt loan portfolio, operating expenses, and capital and liquidity position.
The company’s current reports on Form 8-K provide event-driven disclosures on topics such as reverse stock split actions, notices from The Nasdaq Stock Market regarding listing compliance, unregistered sales of equity securities, financial results releases, and changes in board leadership. These 8-K filings also reference the trading symbols for Beneficient’s securities: BENF for its Class A common stock and BENFW for its warrants.
Proxy materials, including definitive proxy statements on Schedule DEF 14A, describe matters submitted to stockholders, such as approval of reverse stock splits and related adjustments to authorized share counts. Together, these filings document how Beneficient manages its equity structure, responds to listing requirements, and seeks stockholder approval for significant corporate actions.
On Stock Titan, Beneficient’s SEC filings are updated in near real time from EDGAR, and AI-powered summaries can help explain complex documents, highlight key terms in 10-K and 10-Q reports, and surface notable items from 8-Ks and proxy statements, making it easier to review BENF’s regulatory history.
Beneficient reported results of its 2026 annual meeting of stockholders. Stockholders approved an amendment to the Beneficient 2023 Long Term Incentive Plan, increasing the shares of Class A common stock reserved for equity awards; the amendment became effective on March 27, 2026. Three Class A directors – Peter T. Cangany, Patrick J. Donegan, and Karen J. Wendel – were reelected, and Weaver and Tidwell, LLP was ratified as independent registered public accounting firm for the fiscal year ending March 31, 2026. Shares representing approximately 91.7% of total voting power as of the February 13, 2026 record date were present or represented by proxy.
Beneficient is calling a virtual annual meeting on March 27, 2026 to vote on three items: electing three Class A directors, ratifying Weaver and Tidwell, LLP as auditor for the year ending March 31, 2026, and approving an amendment to the 2023 Long Term Incentive Plan to increase Class A common stock reserved for awards.
Holders of 14,183,822 Class A shares and 29,908 Class B shares as of February 13, 2026 may vote, with Class B carrying ten votes per share. The proxy details a prior 8‑for‑1 reverse stock split that helped restore Nasdaq Capital Market compliance and describes the company’s dual-class governance and board committee structure.
The filing also summarizes extensive litigation developments, including a $55.3 million equity-awards arbitration now confirmed on appeal, a $34.5 million GWG-related settlement fully funded by insurance, several other settled or pending suits, and notes that certain settlements have largely exhausted available insurance coverage for some ongoing legal matters.
Beneficient registers 71,017,840 shares of Class A common stock in a prospectus supplement to its Form S-1. The supplement incorporates a Form 8-K dated March 12, 2026, and updates disclosure in the January 2, 2026 prospectus.
The Form 8-K describes an amendment to a credit agreement under which the company issued 149,904 shares to HH-BDH to satisfy $572,588 of accrued interest and fees, and agreed to deferred cash payments of $94,365 (payable March 31, 2026) and $1,000,000 (payable following September 30, 2026). The amendment grants HH-BDH piggyback registration rights for the issued shares. The company also appointed Mack Hicks to the board; Mr. Hicks is affiliated with Hicks Holdings and HH-BDH.
Beneficient amended its credit arrangements with HH-BDH on March 10, 2026 to settle the remaining $1.66 million of interest and fees under a prior credit agreement. The company will issue 149,904 Class A shares valued at $572,588 and pay $1,000,000 in cash after September 30, 2026, plus $94,365 after March 31, 2026. HH-BDH also received piggyback registration rights on these shares. The same day, the board appointed Mack Hicks, managing member of Hicks Holdings and an affiliate of HH-BDH, as a director pursuant to an existing stockholders agreement. As of March 11, 2026, HH-BDH held 11,710,609 Class A shares, reflecting a significant related-party relationship.
Beneficient files a prospectus supplement registering 71,017,840 shares of Class A common stock. The supplement incorporates the Company’s Form 10-Q for the quarter ended December 31, 2025 and updates the prior S-1 prospectus.
The 10-Q discloses cash and cash equivalents of $7.9 million as of December 31, 2025 (approximately $2.5 million as of January 31, 2026), consolidation of Customer ExAlt Trusts, a confirmed equity arbitration award of $62.8 million, related-party debt and events of default under the HCLP Loan Agreement, and a 1-for-8 reverse stock split effective December 15, 2025. The supplement notes an available SEPA facility up to $250.0 million with approximately $240.7 million remaining available under its terms.
Beneficient (BENF) reports mixed quarterly results alongside serious liquidity pressures and going‑concern risk. For the quarter ended December 31, 2025, revenue rose to $18.7 million and net income attributable to common shareholders reached $19.9 million, helped by a $43.8 million gain on financial instruments despite a $25.4 million investment loss.
Over the first nine months of the fiscal year, the company posted a $104.6 million net loss and a $48.8 million loss attributable to common shareholders. Cash and cash equivalents were $7.9 million against total liabilities of $375.9 million and a shareholders’ equity deficit of $128.6 million. Management discloses substantial doubt about the ability to continue as a going concern due to recurring losses, significant related‑party debt, covenant and payment defaults, and a $62.8 million confirmed arbitration award.
To maintain Nasdaq listing, Beneficient executed 1‑for‑80 and 1‑for‑8 reverse stock splits in 2024 and 2025, leaving 14.1 million Class A shares issued as of December 31, 2025 and 14.2 million Class A shares outstanding by February 11, 2026. The company highlights potential access to up to approximately $240.7 million of additional equity through an existing standby equity purchase agreement, though any usage depends on market conditions.
Beneficient reported a sharp turnaround in fiscal third quarter 2026, helped by asset-related gains and lower underlying costs. GAAP revenues were $18.7 million, up from $4.4 million a year earlier, and operating income reached $3.9 million versus a prior loss of $9.5 million. Net income attributable to common shareholders was $19.9 million, compared with a loss of $8.6 million, largely driven by a $43.8 million gain on financial instruments and a $2.0 million gain on liability resolution. Excluding goodwill and litigation-related items, operating expenses fell 6.5% to $13.0 million, showing progress on cost control, although adjusted operating loss remained sizable at $32.1 million. The company generated $50.2 million of gross proceeds from asset sales year-to-date, fully repaid the principal on the HH-BDH Credit Agreement, and ended December 31, 2025 with cash of $7.9 million and total debt of $100.3 million. A final court-approved settlement of GWG Holdings litigation and full compliance with Nasdaq listing requirements strengthened its position as it continues to build a diversified loan portfolio backed by alternative assets.
Beneficient is registering 71,017,840 shares of Class A common stock under a supplemented S-1 prospectus that now incorporates a new Form 8-K. The supplement adds disclosure that a U.S. District Court has approved a previously announced settlement of all GWG Holdings-related claims against Beneficient, its subsidiaries, and their current and former directors and officers, with the settlement amount falling within applicable insurance policy limits.
The settlement, which had already been approved by the Bankruptcy Court, will now be final under its terms and resolves these claims without any admission of fault or wrongdoing by the company or other defendants. Other GWG-related claims remain outstanding against parties other than the Beneficient parties, including entities related to the company’s founder and former CEO, and Beneficient may owe certain indemnification obligations to those parties.
Beneficient announced that the United States District Court for the Northern District of Texas has approved a previously disclosed settlement resolving all GWG Holdings, Inc.-related claims against the company, its subsidiaries, and their current and former directors and officers. This follows earlier approval by the United States Bankruptcy Court for the Southern District of Texas, making the settlement final under its terms.
The settlement covers GWG-related litigation within applicable insurance policy limits and is being resolved without any admission, concession or finding of fault, liability or wrongdoing by Beneficient or any defendant. Certain GWG-related claims against parties other than the Beneficient-related parties remain outstanding, including claims against entities related to Beneficient’s founder and former CEO, to whom Beneficient may owe indemnification obligations.
Beneficient filed a prospectus supplement covering 71,017,840 shares of its Class A common stock, updating its existing Form S-1 prospectus with new information from a recent current report. The supplement incorporates a Form 8-K describing that the company has completed repayment of approximately $27.5 million of loans owed to a Texas state bank, satisfying all outstanding principal under that facility.
Those loans were made under the Hicks Holdings Credit Agreement, which initially provided a $25.0 million term loan and was later amended to add a subsequent term loan of up to approximately $1.7 million, both fully drawn. After repaying principal on January 12, 2026, Beneficient still owes $1.66 million to Hicks Holdings for interest and fees, which it expects to pay over time on mutually agreed terms; once these amounts are paid, all obligations under the Hicks Holdings Credit Agreement will be fully satisfied.