Beneficient (BENF) shares are experiencing a significant surge on Friday following the company’s announcement of a transaction designed to increase its permanent equity by a substantial $126 million. This move involves redesignating $126 million of preferred equity as non-redeemable, a decision approved by the company’s founders who hold the majority of the preferred equity. As a result of this transaction, Beneficient anticipates that approximately $126 million in temporary equity will be reclassified as permanent equity on its balance sheet as of September 30, 2024.
The news has ignited significant investor interest, leading to heavy trading volume in Beneficient’s stock during Friday’s pre-market session. According to data from Benzinga Pro, Beneficient’s stock has a float of only 3.1 million shares, and over 17 million shares have already changed hands on Friday. This indicates a high level of activity and enthusiasm from investors.
If you’re interested in participating in the market for Beneficient, you can buy shares through a brokerage account. Many brokerages offer the option to buy fractional shares, which allows you to own portions of a stock without purchasing an entire share. This is particularly useful for stocks like Berkshire Hathaway, where a single share can cost thousands of dollars. If you’re looking to bet against Beneficient, the process is more complex and requires access to an options trading platform or a broker who allows short selling.
At the time of publication on Friday, Beneficient shares were up a staggering 59.2% at $1.89. This significant price jump reflects the positive market sentiment surrounding the company’s equity increase and its potential impact on the company’s financial stability and future prospects.
