Beneficient closes on $25 million term loan financing

- enters into $25 million three-year term loan with hicks - - financing provides capital to meet existing obligations, fund product distribution, and provide working capital - dallas, oct. 19, 2023 (globe newswire) -- beneficient (nasdaq: benf) (“ben” or the “company”), a technology-enabled financial services holding company that provides liquidity and related trust and custody services to holders of alternative assets, today announced that, through an indirect subsidiary, it has entered into and closed on a $25 million three-year term loan financing with hh-bdh llc (“hicks”), an entity associated with tom hicks, a member of beneficient's board of directors. the company plans to utilize the proceeds to repay certain of its outstanding obligations, fund product distribution, and provide additional working capital.
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