Beneficient announces termination of SEC investigation

Beneficient announced the Securities and Exchange Commission has issued termination letters to the Company and its founder, Chairman and CEO, Mr. Brad Heppner, advising that the SEC has concluded the investigation and does not intend to recommend an enforcement action by the SEC under the previously issued Wells Notices. As a result, the Company requires additional time to update its Annual Report on Form 10-K for the fiscal year ended March 31, 2024 and complete its procedures related to the updated information prior to filing the Annual Report. Additionally, the Company’s earnings webcast and earnings release for its fourth quarter and Fiscal 2024 previously scheduled for July 2, 2024 at 8:30 a.m. Eastern Daylight Time has been postponed. The Company will make an announcement to provide the date and time of the earnings webcast and earnings release as soon as practicable.