Jeff Welday, global head of organizations and distribution at Beneficient (NASDAQ:BENF), recently sold 3,364 shares of the company's Class A common stock. The transaction, which occurred on December 23, 2024, was executed at a price of $0.65 per share, for a total consideration of $2,186. The stock, which currently trades at $0.69, has seen significant volatility, down nearly 98% year to date. according to InvestingPro By analysis, BENF is currently trading close to its fair value. This sale was made to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs). Following this transaction, Welday retains ownership of 89,018 shares in the company. InvestingPro The data reveals that the company is facing challenges related to cash burn and short-term liabilities. Subscribers can access 13 additional ProTips and a comprehensive research report to gain deeper insights into BENF's financial health.
In other recent news, Beneficient announced an agreement to acquire a Puerto Rico-based company Commercial Bank (NASDAQ:) International Corp. For $1.5 million. The acquisition, expected to close in the second quarter of 2025, aims to expand Beneficient's services and customer base. In addition, Beneficient has regained compliance with Nasdaq requirements, ensuring its continued listing on the exchange. The company also reported sustained growth in the second quarter of fiscal 2025, with net income of $9.7 million, marking the second consecutive quarter of profitability. The beneficiary also named Karen J. Wendel (EPA:) to its Board of Directors, whose expertise in banking and cybersecurity is expected to enhance the company's decision-making at board level. Despite a decline in year-to-date net income and distributions compared to the prior year, Beneficient expects growth in demand for liquidity in target markets. These are among Beneficient's recent developments.
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