Item Entry 1.01. into a Material Definitive Agreement. As previously disclosed, on March 10, 2026, Beneficient Financing, L.L.C. (the “Borrower”), a wholly owned subsidiary of Beneficient, a Nevada corporation (the “Company”), and Beneficient Company Holdings, L.P., as guarantor (the “Guarantor” and together with the Borrower, the “Loan Parties”), entered into a letter agreement (the “Letter Agree…
Filed Oct 14, 2026Accepted Oct 14, 2026, 4:05 PM EDTCIK 1775734Accession 0001493152-26-047018
We are a technology-enabled financial services company that provides simple, rapid, and cost-effective liquidity solutions and related trustee, custody and trust administrative services to participants in the alternative asset industry. Through our business line operating subsidiaries (each a “Ben Business Unit” and collectively, the “Ben Business Units”), Ben Liquidity, Ben Custody, and Ben Markets (each as defined below), we seek to provide solutions in the alternative asset investment market for individual and institutional investors, general partners and sponsors (“GPs”) and the alternative asset funds they manage (“Customers”). Following receipt of regulatory approval, our Ben Business Units are expected to include an additional business line, Ben Insurance Services. Our products and services are designed to meet the unmet needs of mid-to-high net worth (“MHNW”) individual investors, small-to-midsize institutional (“STMI”) investors, family offices (“FAMOs”) and GPs, which collectively are our Customers.
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Item 1.01Item 1.01 - Entry into Material Agreement
Item Entry
1.01. into a Material Definitive Agreement.
As
previously disclosed, on March 10, 2026, Beneficient Financing, L.L.C. (the “Borrower”), a wholly owned subsidiary of Beneficient,
a Nevada corporation (the “Company”), and Beneficient Company Holdings, L.P., as guarantor (the “Guarantor” and
together with the Borrower, the “Loan Parties”), entered into a letter agreement (the “Letter Agreement”) with
HH-BDH, LLC (“HH-BDH”), which provided for the payment of the remaining interest and fees outstanding under that certain
Credit and Guaranty Agreement, dated October 19, 2023, by and among the Loan Parties and HH-BDH, as lender and administrative agent.
HH-BDH’s sole member is Hicks Holdings Operating, LLC, a Delaware limited liability company, whose managing member, Mack Hicks,
is a member of the Company’s board of directors. Pursuant to the terms of the Letter Agreement, among other things, the Borrower
agreed to pay HH-BDH $1,000,000 in cash no later than five business days following September 30, 2026. Effective October 7, 2026, HH-BDH
and the Loan Parties amended the Letter Agreement (the “Letter Agreement Amendment”) to extend the deadline for the $1,000,000
cash payment to March 31, 2027.
The
foregoing description of the Letter Agreement Amendment is a summary only, does not purport to be complete and is subject to, and qualified
in its entirety by reference to, the full text of the Letter Agreement Amendment, a copy of which is filed as Exhibit 10.1 to this Current
Report on Form 8-K and is incorporated by reference herein.