07:53 AM EST, 11/22/2024 (MT Newswires) -- Beneficient (BENF) said Friday it has added $35 million in permanent equity on its balance sheet after its subsidiary redesignated around $35 million of its preferred equity as non-redeemable.

Beneficient said it believes it now meets Nasdaq's minimum stockholders' equity requirement of at least $2.5 million, however, it is subject to Nasdaq's final determination.

The company shares were up over 13% in recent premarket trading.