77 results
DEF 14A
BENF
Beneficient - Ordinary Shares
11 Mar 24
Definitive proxy
6:04am
The following table contains illustrative information relating to our Common Stock, based on share information as of February 29, 2024, rounded up to the nearest whole share and without giving effect to the treatment of fractional shares.
Before Reverse Stock Split | Reverse Stock Split Ratio of 1 for 10 | Reverse Stock Split Ratio of 1 for 50 | Reverse Stock Split Ratio of 1 for 100 | |||||||||||||
Number of Shares of Common Stock Authorized | 1,520,000,000 | 152,000,000 | 30,400,000 | 15,200,000 | ||||||||||||
Number of Shares of Common Stock Issued and Outstanding | 277,065,101 | (1) | 27,706,510 | 5,541,302 | 2,770,651 | |||||||||||
Number of Shares of Common Stock Reserved for Issuance Pursuant to Outstanding RSUs | 52,962,964 | (2) | 5,296,296 | 1,059,259 | 529,630 | |||||||||||
Issuable under Outstanding Convertible Preferred Stock | 11,142,857 | (3) | 1,114,286 | 222,857 | 11,439 | |||||||||||
Authorized but Unissued and Unreserved | 1,178,829,078 | 117,882,908 | 23,576,582 | 11,788,291 |
DEF 14A
BENF
Beneficient - Ordinary Shares
11 Mar 24
Definitive proxy
6:04am
The following table does not include shares of Class A Common Stock that may be issued in exchange for interests in BCH, some of which convert into Class A Common Stock based upon their capital account balance calculated in accordance with Section 704 of the Code. Except as otherwise noted below, the address for persons or entities listed in the table is c/o Beneficient, 325 N. Saint Paul St., Suite 4850, Dallas, Texas 75201.
Class B Common Stock | Class A Common Stock | |||||||||||||||||||
Name of Beneficial Owner(1) | Number of Shares of Class B Common Stock Beneficially Owned(2) | Percentage of Outstanding Class B Common Stock | Number of Shares of Class A Common Stock Beneficially Owned(2) | Percentage of Outstanding Class A Common Stock | Percentage of Total Voting Power of Class A and Class B Common Stock(3) | |||||||||||||||
Named Executive Officers and Directors | ||||||||||||||||||||
Brad K. Heppner | 17,719,483 | (4) | 92.6 | % | 1,095,205 | (6) | * | 39.7 | % | |||||||||||
James G. Silk | — | — | 58,359 | (7) | * | * | ||||||||||||||
Derek L. Fletcher | — | — | 191,738 | (8) | * | * | ||||||||||||||
Peter T. Cangany, Jr. | — | — | 450,625 | (9) | * | * | ||||||||||||||
Richard W. Fisher | — | — | 1,033,729 | (10) | * | * | ||||||||||||||
Thomas O. Hicks | 1,322,208 | (5) | 6.9 | % | 93,420 | (11) | * | 3.0 | % | |||||||||||
Dennis P. Lockhart | — | — | 50,625 | (12) | * | * | ||||||||||||||
Bruce W. Schnitzer | 98,760 | * | 934,968 | (13) | * | * | ||||||||||||||
Emily B. Hill | — | — | 12,500 | (14) | * | * | ||||||||||||||
All directors and executive officers of Beneficient as a group (13 individuals) | 19,140,451 | 100 | % | 4,013,199 | 1.5 | % | 43.5 | % |
DEF 14A
BENF
Beneficient - Ordinary Shares
11 Mar 24
Definitive proxy
6:04am
None of the BCH securities identified in the table below are included in the beneficial ownership table reported above as they are not exchangeable for Class A Common Stock within 60 days of February 29, 2024, due to exchange limitations set forth in the BCH LPA and that certain Exchange Agreement, dated June 7, 2023, by and between the Company, BCH and Ben LLC.
As of December 31, 2023(1) | ||||||||
(Dollars in thousands) | Hypothetical Capital Account Balance | Capital Account Balance | ||||||
BCH Equity Securities: | ||||||||
Class A Units held by Beneficient | $ | — | $ | 350,965 | ||||
Class S Ordinary Units | — | 6,805 | ||||||
Class S Preferred Units | 815 | 581 | ||||||
Preferred Series A Subclass 0 | — | 252,796 | ||||||
Preferred Series A Subclass 1 | 919,645 | 813,532 | ||||||
Subtotal BCH Equity | $ | 920,460 | $ | 1,424,679 | ||||
DEF 14A
BENF
Beneficient - Ordinary Shares
11 Mar 24
Definitive proxy
6:04am
Class B Common Stock | Class A Common Stock | |||||||||||||||||||
Name of Beneficial Owner(1) | Number of Shares of Class B Common Stock Beneficially Owned(2) | Percentage of Outstanding Class B Common Stock | Number of Shares of Class A Common Stock Beneficially Owned(2) | Percentage of Outstanding Class A Common Stock | Percentage of Total Voting Power of Class A and Class B Common Stock(3) | |||||||||||||||
Other 5% Holders | ||||||||||||||||||||
Hatteras Investment Partners, LP(15) | — | — | 47,467,219 | 18.4 | % | 10.6 | % | |||||||||||||
GWG Wind Down Trust(16) | — | — | 169,654,521 | 65.8 | % | 37.8 | % | |||||||||||||
The GRID Holding Co., LLC(17) | — | — | 13,805,841 | 5.4 | % | 3.1 | % |