Beneficient Regains Compliance with NASDAQ Minimum Bid Price Rule
03 May 2024 - 10:00PM
Beneficient (the “Company”) (Nasdaq: BENF), a technology-enabled
platform providing liquidity and related trust and custody services
to holders of alternative assets through its proprietary online
platform, AltAccess, today announced that it has received notice
from The Nasdaq Stock Market LLC (“Nasdaq”) that it has regained
compliance with the minimum bid price requirement under Nasdaq
Listing Rule 5550(a)(2). The notice confirmed that the Company’s
securities will continue to be listed and traded on Nasdaq.
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About BeneficientBeneficient
(Nasdaq: BENF) – Ben, for short – is on a mission to democratize
the global alternative asset investment market by providing
traditionally underserved investors – mid-to-high net worth
individuals and small-to-midsized institutions – with early
liquidity exit solutions that could help them unlock the value in
their alternative assets. Ben’s AltQuote™ tool provides customers
with a range of potential liquidity exit options within minutes,
while customers can log on to the AltAccess® portal to digitize
their alternative assets in order to explore early exit
opportunities, receive proposals for liquidity in a secure online
environment, engage custodial services for the digital alternative
assets and receive data analytics to better inform investment
decision making. Its subsidiary, Beneficient Fiduciary Financial,
L.L.C., received its charter under the State of Kansas’
Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and
is subject to regulatory oversight by the Office of the State Bank
Commissioner.
Forward-Looking StatementsThis
communication includes forward-looking statements as defined under
U.S. federal securities laws. Forward-looking statements include
all statements that are not historical statements of fact,
including related to statements about the continued listing of the
Company’s securities on Nasdaq. In addition, any statements that
refer to projections, forecasts, or other characterizations of
future events or circumstances, including any underlying
assumptions, are forward-looking statements. The words
“anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,”
“may,” “might,” “plan,” “possible,” “potential,” “predict,” “will,”
“would,” and similar expressions may identify forward-looking
statements, but the absence of these words does not mean that a
statement is not forward-looking.
Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to significant risks and uncertainties, many of which are
outside of our control, and could cause future events or results to
be materially different from those stated or implied in this
release. It is not possible to predict or identify all such risks.
These risks include, but are not limited to, our ability to
maintain compliance with Nasdaq listing standards and the risk
factors that are described under the section titled “Risk Factors”
in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q
and other documents we file with the SEC. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and we assume no obligation and do not intend to update or revise
these forward-looking statements, whether as a result of new
information, future events, or otherwise.
ContactsInvestors: investors@beneficient.com
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