Beneficient Closes $8.75 Million GP Primary Capital Transaction and Issues Series B-10 Preferred Stock

On April 8, 2026, Beneficient completed a primary capital transaction involving an $8.75 million commitment to Quartus AI Fund LP. In exchange, the company received shares of its Series B-10 Resettable Convertible Preferred Stock, which is convertible into Class A Common Stock. This transaction is expected to result in an unrealized gain of approximately $1.2 million and an increase in the collateral for the company's ExAlt loan portfolio. The Series B-10 Preferred Stock has specific conversion terms, including a reset price and a floor price, and is subject to limitations on conversion to comply with Nasdaq regulations. The company also filed a certificate of designation for the Series B-10 Preferred Stock, outlining its rights, preferences, and privileges. This filing was made in reliance on the exemption provided by Section 4(a)(2) of the Securities Act and Regulation D. Beneficient anticipates needing stockholder approval for certain conversion scenarios that may exceed Nasdaq's issuance caps.