Weekly Recap: Convert ~$850M preferred equity and 251% intraday jump
Beneficient Class A (NASDAQ:BENF) surged after CEO James Silk unveiled a restructuring to sever ties with Heppner — proposing to wipe ~$130M HCLP debt, convert ~$850M preferred equity into 162,132 Class A shares, remove Heppner’s super-vote and cancel ~$88M obligations to resolve disputes and resto…