Beneficient Warrant

Thomas O. Hicks, a prominent private equity pioneer and Beneficient Board Chairman, passed away on December 6, 2025, at age 79. Known for co-founding significant private equity firms and owning sports teams, Hicks was remembered for his leadership and impact on Dallas and Texas business.

Beneficient, a technology-enabled platform, has entered into an agreement to acquire Mercantile Bank International, a Puerto Rico-based International Financial Entity. The acquisition is expected to enable Beneficient to offer an expanded range of alternative asset custody services and generate additional cash flow.