Beneficient
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 14, 2024
BENF$0.70+3.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Financial Condition
| December 31, 2023 | March 31, 2023 (1) | |
|---|---|---|
| (Dollars and shares in thousands) · (unaudited) | ||
| ASSETS | ||
| Cash and cash equivalents | $11,248 | $8,726 |
| Restricted cash | 20 | 819 |
| Investments, at fair value: | ||
| Investments held by Customer ExAlt Trusts (related party of $3,759 and $76,154) | 378,382 | 491,859 |
| Investments held by Ben (related party of $38 and $1,371) | 38 | 5,362 |
| Other assets, net (related party of nil and $2,195) | 26,061 | 32,903 |
| Intangible assets | 3,100 | 3,100 |
| Goodwill | 81,714 | 2,367,926 |
| Total assets | $500,563 | $2,910,695 |
| LIABILITIES, TEMPORARY EQUITY, AND EQUITY | ||
| Accounts payable and accrued expenses (related party of $14,032 and $10,485) | $96,194 | $65,724 |
| Other liabilities (related party of nil and $100) | 20,986 | 14,622 |
| Warrant liability | 161 | — |
| Customer ExAlt Trusts loan payable, net | — | 52,129 |
| Debt due to related party, net | 128,197 | 99,314 |
| Total liabilities | 245,538 | 231,789 |
| Redeemable noncontrolling interests | ||
| Preferred Series A Subclass 0 Unit Accounts, nonunitized | 251,052 | 251,052 |
| Preferred Series A Subclass 1 Unit Accounts, nonunitized | — | 699,441 |
| Total temporary equity | 251,052 | 950,493 |
| Shareholder’s equity: | ||
| Preferred stock, par value $0.001 per share, 250,000 shares authorized | ||
| Series A preferred stock, 0 and 0 shares issued and outstanding as of December 31, 2023 and March 31, 2023 | — | — |
| Series B-1 preferred stock, 0 and 0 shares issued and outstanding as of December 31, 2023 and March 31, 2023 | — | — |
| Class A common stock, par value $0.001 per share, 1,500,000 shares authorized, 257,210 and 180,178 shares issued as of December 31, 2023 and March 31, 2023, respectively, and 256,666 and 179,634 shares outstanding as of December 31, 2023 and March 31, 2023, respectively | 257 | 180 |
| Class B convertible common stock, par value $0.001 per share, 20,000 shares authorized, 19,140 and 19,140 shares issued and outstanding as of December 31, 2023 and March 31, 2023 | 19 | 19 |
| Additional paid-in capital | 1,843,493 | 1,579,545 |
| Accumulated deficit | (1,992,992) | — |
| Stock receivable | (20,038) | — |
| Treasury stock, at cost (544 shares as of December 31, 2023 and March 31, 2023) | (3,444) | (3,444) |
| Accumulated other comprehensive income | 442 | 9,900 |
| Noncontrolling interests | 176,236 | 142,213 |
| Total equity | 3,973 | 1,728,413 |
| Total liabilities, temporary equity, and equity | $500,563 | $2,910,695 |
(1) Retroactively adjusted March 31, 2023 for the de-SPAC merger transaction as described in Note 4. Such adjustments are unaudited.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.