Beneficient announced that it will receive $48,525,810 in funding on April 24, 2023. The company will issue Convertible Preferred Shares in the transaction. The company intends to continue the transaction for more than one year.

The company will issue securities pursuant to exemption provided under Regulation D. The company issued 942,249 Warrants and 3,768,995 shares of Convertible Preferred Stock. The Warrants are fungible with the Issuer's existing Warrants. The Convertible Preferred Stock converts to Class A Common Stock at $5.46 subject to reset and a floor of $2.73.