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Beneficient (NASDAQ:BENF) announced that stockholders approved two key proposals at a special meeting held Monday, according to a press release statement based on a recent SEC filing. The micro-cap company, currently valued at just $61 million with shares trading at $0.58, has seen significant volatility in recent months, with the stock up 56.7% over the past six months despite being down 26% year-to-date.
The first proposal authorized the company’s board of directors to implement a reverse stock split of its issued and outstanding common stock at a ratio ranging from 1-for-5 to 1-for-100. The board will determine the exact ratio and timing at its discretion. The proposal also includes a proportionate reduction in the authorized shares of each class of common stock, as required by Nevada law.
Voting results showed 104,347,103 shares were cast in favor, 590,121 against, and 15,784 abstained.
The second proposal, which was also approved, allows for the adjournment of the special meeting to a later date if necessary to solicit additional votes in connection with the reverse split. This measure received 104,304,768 votes in favor, 578,315 against, and 69,931 abstentions.
A total of 104,935,251 shares of Class A common stock and 17,763 shares of Class B common stock participated in the meeting, representing approximately 92.8% of Beneficient’s total voting power as of the October 27, 2025 record date.
No other matters were submitted for a vote at the meeting. Beneficient is incorporated in Nevada and its Class A common stock and warrants are listed on the Nasdaq Stock Market under the symbols BENF and BENFW, respectively.
The information is based solely on a press release statement and the company’s SEC filing.
In other recent news, Beneficient reported its Q2 2025 earnings, highlighting significant operational strides despite facing financial hurdles. The company posted a negative revenue of $2.8 million for the quarter, indicating challenges in its financial performance. Beneficient continues to streamline its operations and explore new market opportunities as part of its strategic initiatives. The company’s efforts to enhance operational efficiency are noteworthy amidst the financial difficulties it is experiencing. These recent developments provide investors with insight into Beneficient’s ongoing efforts to improve its market position. Analyst assessments or upgrades were not mentioned in the recent reports. The company’s focus remains on overcoming current challenges while seeking growth avenues.
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