Beneficient Regains Compliance with NASDAQ Minimum Stockholders’ Equity Requirement and Audit Committee Requirement
November 26 2024 - 5:00AM
Beneficient (the “Company”) (Nasdaq: BENF), a technology-enabled
platform providing liquidity and related trust and custody services
to holders of alternative assets, today announced that it has
received notice from The Nasdaq Stock Market LLC ("Nasdaq") that it
has regained compliance with the Stockholders’ Equity Requirement
under Nasdaq Listing Rule 5550(b)(1) and the Audit Committee
Requirement under Nasdaq Listing Rule 5605(c)(2). As a result, the
Company’s securities will continue to be listed and traded on
Nasdaq.
For more information, visit www.trustben.com or
follow on LinkedIn.
About BeneficientBeneficient
(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.
For more information, visit www.trustben.com or follow
Beneficient on LinkedIn.
Forward-Looking StatementsThis
communication includes forward-looking statements as defined under
U.S. federal securities laws. Forward-looking statements include
all statements that are not historical statements of fact,
including related to statements about the continued listing of the
Company’s securities on Nasdaq. In addition, any statements that
refer to projections, forecasts, or other characterizations of
future events or circumstances, including any underlying
assumptions, are forward-looking statements. The words
“anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,”
“may,” “might,” “plan,” “possible,” “potential,” “predict,” “will,”
“would,” and similar expressions may identify forward-looking
statements, but the absence of these words does not mean that a
statement is not forward-looking.
Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to significant risks and uncertainties, many of which are
outside of our control, and could cause future events or results to
be materially different from those stated or implied in this
release. It is not possible to predict or identify all such risks.
These risks include, but are not limited to, our ability to
maintain compliance with Nasdaq listing standards and the risk
factors that are described under the section titled “Risk Factors”
in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q
and other documents we file with the SEC. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and we assume no obligation and do not intend to update or revise
these forward-looking statements, whether as a result of new
information, future events, or otherwise.
ContactsMatt Kreps: 214-597-8200,
mkreps@darrowir.comMichael Wetherington: 214-284-1199,
mwetherington@darrowir.comInvestor Relations:
investors@beneficient.com
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