Beneficient (BENF) Stock Skyrockets 64% After CEO Converts $52M Preferred into Common
Benficient stock closed Oct 21 at ~$0.49 and jumped ~64% to ~$0.80 after hours when Chairman Thomas O. Hicks and Interim CEO James Silk converted $52.6 M of preferred units into Class A shares investing.com benzinga.com. The company is racing to meet Nasdaq’s listing rules. Q1 FY2026 results showed heavy losses but CEO Silk emphasized cost cuts and new capital deals to rebuild cash globenewswire.com scr.zacks.com. Zacks maintains a $2.00 price target, implying ~300% upside scr.zacks.com, though ChartMill notes serious financial weakness chartmill.com.
