Financing ·
Issues $4M in convertible promissory notes to Yorkville under amended SEPA
BENFWBeneficient
Beneficient issued two $2.0 million promissory notes to YA II PN, Ltd., receiving approximately $1.8 million in gross proceeds from each after a 5% original issue discount. The notes mature on June 30, 2027, bear interest at 5.0% per annum, and are convertible into Class A common stock at the holder's option. This issuance is part of an amended Standby Equity Purchase Agreement that allows the company to sell up to $100.0 million in equity or debt financing. Beneficient operates in the technology sector.