# EDGAR Filing Document

**Accession Number:** 0001775734
**File Stem:** 0001641172-25-013613
**Filing Date:** 2025-6
**Character Count:** 10321
**Document Hash:** fafd8aa234bee016315a223a2d7a363b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-013613.hdr.sgml**: 20250604

**ACCESSION NUMBER**: 0001641172-25-013613

**CONFORMED SUBMISSION TYPE**: 424B3

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250604

**DATE AS OF CHANGE**: 20250604

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Beneficient
- **CENTRAL INDEX KEY:** 0001775734
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 721573705
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 424B3
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-281694
- **FILM NUMBER:** 251023165

**BUSINESS ADDRESS:**
- **STREET 1:** 325 N. SAINT PAUL STREET
- **STREET 2:** SUITE 4850
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201
- **BUSINESS PHONE:** 2144454705

**MAIL ADDRESS:**
- **STREET 1:** 325 N. SAINT PAUL STREET
- **STREET 2:** SUITE 4850
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Beneficient Co Group, L.P.
- **DATE OF NAME CHANGE:** 20190503

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| | |
|:---|:---|
| **Prospectus Supplement No. 13**<br> **(to Prospectus dated November 12, 2024)** | **Filed Pursuant to Rule 424(b)(3)**<br> **Registration No. 333-281694** |

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**BENEFICIENT**

**203,212,927 Shares of Class A Common Stock**

This prospectus supplement updates and supplements the prospectus of Beneficient, a Nevada corporation (the "Company," "we," "us" or "our"), dated November 12, 2024, which forms a part of our Registration Statement on Form S-1, as amended (Registration No. 333-281694) (the "Prospectus"). This prospectus supplement is being filed to update and supplement the information in the Prospectus with the information contained in our Current Report on Form 8-K, filed with the Securities and Exchange Commission (the "SEC") on June 4, 2025. Accordingly, we have attached the Form 8-K to this prospectus supplement. The information included in the Form 8-K that is furnished shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

This prospectus supplement should be read in conjunction with the Prospectus. This prospectus supplement updates and supplements the information in the Prospectus. If there is any inconsistency between the information in the Prospectuses and this prospectus supplement, you should rely on the information in this prospectus supplement.

Our Class A common stock, par value $0.001 per share (the "Class A common stock"), is listed on The Nasdaq Capital Market under the symbol "BENF," and the warrants, with each warrant exercisable for one share of Class A common stock and one share of Series A preferred stock, par value $0.001 per share, at an exercise price of $11.50 (the "Warrants"), are listed on The Nasdaq Capital Market under the symbol "BENFW". On June 3, 2025, the last reported sales price of the Class A common stock was $0.2941 per share, and the last reported sales price of our Warrants was $0.0068 per Warrant. We are an "emerging growth company" and a "smaller reporting company" as defined under the U.S. federal securities laws and, as such, may elect to comply with certain reduced public company reporting requirements for this and future filings. Certain holders of our Class B common stock, par value $0.001 per share (the "Class B common stock"), have entered into a stockholders agreement concerning the election of directors of the Company, and holders of Class B common stock have the right to elect a majority of the Company's directors. As a result, the Company is a "controlled company" within the meaning of the Nasdaq Listing Rules and may elect not to comply with certain corporate governance standards.

**Investing in our securities involves risk. See the sections entitled "Risk Factors" beginning on page 9 of the Prospectus and under similar headings in any further amendments or supplements to the Prospectus to read about factors you should consider before buying our securities.**

**Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if any Prospectus or this prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense.**

**The date of this prospectus supplement is June 4, 2025.**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of report (Date of earliest event reported): May 29, 2025**

**Beneficient**

**(Exact Name of Registrant as Specified in Charter)**

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| | | |
|:---|:---|:---|
| **Nevada** | **001-41715** | **72-1573705** |
| **(State or Other Jurisdiction**<br> **of Incorporation)** | **(Commission**<br> **File Number)** | **(I.R.S. Employer**<br> **Identification No.)** |

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**325 North St. Paul Street, Suite 4850**

**Dallas, Texas 75201**

**(Address of Principal Executive Offices, and Zip Code)**

**(214) 445-4700**

**Registrant's Telephone Number, Including Area Code**

**N/A**

**(Former Name or Former Address, if Changed Since Last Report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

☐ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Shares of Class A common stock, par value $0.001 per share | BENF | Nasdaq Stock Market LLC |
| Warrants, each whole warrant exercisable for one share of Class A common stock, par value $0.001 per share, and one share of Series A convertible preferred stock, par value $0.001 per share | BENFW | Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| **Item 5.07.** | **Submission of Matters to a Vote of Security Holders.** |

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On May 29, 2025, Beneficient (the "Company") held its 2025 annual meeting of stockholders (as previously adjourned on each of March 31, 2025, April 16, 2025, April 30, 2025 and May 28, 2025, the "Annual Meeting"). Holders of shares of the Company's Class A common stock, par value $0.001 per share ("Class A common stock"), and Class B common stock, par value $0.001 per share ("Class B common stock"), representing a total of 5,509,937 votes were present or represented by proxy at the Annual Meeting, representing approximately 51% of the Company's total voting power as of the February 28, 2025 record date. The following are the voting results for the proposals considered and voted upon at the Annual Meeting, each of which were described in the Company's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on March 21, 2025.

Proposal 1: To elect seven directors to serve until the Company's 2026 annual meeting of stockholders and until their successors are duly elected and qualified ("Proposal 1"). Holders of shares of Class B common stock, voting as a separate class, were entitled to elect that number of directors which constitutes fifty-one percent (51%) (rounded up to the nearest whole number) of the total number of directors on the Company's Board of Directors (the "Board" and such directors, the "Class B Directors"). Holders of shares of Class A common stock and holders of shares of Class B common stock, voting together as a single class, were entitled to elect all remaining directors on the Board (the "Class A Directors").

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| | | | |
|:---|:---|:---|:---|
| Nominee | Votes Cast For | Votes Withheld | Broker Non-Votes |
| <u>Class B Directors</u> |  |  |  |
| Brad K. Heppner | 2392570 |  |  |
| Derek L. Fletcher | 2392570 |  |  |
| Thomas O. Hicks | 2392570 |  |  |
| Bruce W. Schnitzer | 2392570 |  |  |
| <u>Class A Directors</u> |  |  |  |
| Peter T. Cangany | 4373394 | 322243 | 814300 |
| Patrick J. Donegan | 4275526 | 420111 | 814300 |
| Karen J. Wendel | 4266094 | 429543 | 814300 |

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Proposal 2: To ratify the appointment of Weaver and Tidwell, LLP as the Company's independent registered public accounting firm for the year ending March 31, 2025 ("Proposal 2").

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Votes Cast For | Votes Cast For | Votes Cast Against | Votes Cast Against | Abstentions | Abstentions |
|  | 4971981 |  | 223639 |  | 314317 |

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Based on the foregoing votes, both Proposal 1 and Proposal 2 were approved. No other matters were submitted to or voted on by the Company's stockholders at the Annual Meeting.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
| **BENEFICIENT** | **BENEFICIENT** |
| By: | */s/ Gregory W. Ezell* |
| Name: | Gregory W. Ezell |
| Title: | Chief Financial Officer |
| Dated: | June 4, 2025 |

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