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Beneficient Closes $8.75M Sale Of Resettable Convertible Preferred Stock To Quartus Capital Partners

Benzinga · 04/10 11:46

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Following the closing, the Company participates in an unrealized gain of approximately $1.2 million, which represents its pro rata interest in the appreciation of the Fund's existing asset portfolio. As a result of the Transaction, the collateral for the Company's ExAlt loan portfolio is expected to increase by approximately $9.77 million of interests in alternative assets. Additionally, the Company believes this Transaction will result in the addition of approximately $9.77 million of tangible book value attributable to the Company's stockholders.

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