XML 59 R47.htm IDEA: XBRL DOCUMENT v3.25.0.1
De-SPAC Merger Transaction - Narrative (Details)
$ / shares in Units, $ in Thousands
3 Months Ended 9 Months Ended
Jun. 08, 2023
shares
Jun. 07, 2023
USD ($)
$ / shares
shares
Jun. 06, 2023
$ / shares
shares
Jun. 05, 2023
USD ($)
$ / shares
shares
Dec. 31, 2024
USD ($)
$ / shares
shares
Dec. 31, 2023
USD ($)
Jun. 30, 2023
USD ($)
Dec. 31, 2024
USD ($)
$ / shares
shares
Dec. 31, 2023
USD ($)
Sep. 30, 2024
shares
Aug. 06, 2024
shares
Mar. 31, 2024
USD ($)
$ / shares
shares
Class of Stock [Line Items]                        
Discount rate     0.20                  
Valuation (in dollars per share) | $ / shares     $ 800.00                  
Discounted valuation (in dollars per share) | $ / shares     $ 640.00                  
Compensation expense | $         $ 804 $ 2,026   $ 5,162 $ 37,530      
Cash and cash equivalents | $         4,149     4,149       $ 7,913
Net proceeds | $   $ 1,800                    
Securities exercisable (in shares)                     1,325,382  
Fair value | $         648     648       $ 178
Gain (loss) on financial instruments | $         $ (523) (18,024)   $ (1,885) (64,260)      
Conversion of BCG Common Class A Units                        
Class of Stock [Line Items]                        
Additional value | $             $ 15,000          
Compensation expense | $             $ 15,000   15,000      
Avalon                        
Class of Stock [Line Items]                        
Cash and cash equivalents | $   27,900                    
Transaction expense | $   26,100                    
Ben | APIC                        
Class of Stock [Line Items]                        
Transaction expense | $   $ 21,700                    
Beneficient Warrants                        
Class of Stock [Line Items]                        
Units converted (in shares)   23,625,000                    
Warrants outstanding (in shares) 23,757,500       24,699,725     24,699,725        
Warrants issued (in shares) 23,757,500                      
Warrant exercise price (in dollars per share) | $ / shares   $ 920.00                    
Earnout period   5 years                    
Minimum number of days for written notice   30 days                    
Number of trading days   20 days                    
Number of consecutive trading days   30 days                    
Threshold business days   3 days                    
Share price (in dollars per share) | $ / shares   $ 800.00                    
Fair value | $         $ 200     $ 200        
Gain (loss) on financial instruments | $           $ 800     $ 2,500      
Beneficient Warrants | $18.00 Minimum Share Price                        
Class of Stock [Line Items]                        
Repurchase price (in dollars per share) | $ / shares   0.80                    
Share price (in dollars per share) | $ / shares   1,440                    
Beneficient Warrants | $10.00 Minimum Share Price                        
Class of Stock [Line Items]                        
Repurchase price (in dollars per share) | $ / shares   $ 8.00                    
Avalon Warrants, Publicly Traded                        
Class of Stock [Line Items]                        
Warrants assumed (in shares)   15,525,000                    
Avalon Warrants, Private Placement                        
Class of Stock [Line Items]                        
Warrants assumed (in shares)   8,100,000                    
Closing period   30 days                    
Avalon Class A Common Stock                        
Class of Stock [Line Items]                        
Price per unit (in dollars per share) | $ / shares       $ 847.04                
Aggregate amount received | $       $ 25,000                
Reserve amount | $       20,000                
Units converted (in shares)   1                    
Transaction expense | $   $ 26,100                    
Avalon Class A Common Stock | Ben                        
Class of Stock [Line Items]                        
Disbursed amount | $       $ 5,000                
Avalon Class A Common Stock | River North, L.P.                        
Class of Stock [Line Items]                        
Aggregate amount received | $   $ 20,000                    
Series A Convertible Preferred Stock                        
Class of Stock [Line Items]                        
Common stock, par value (in dollars per share) | $ / shares       $ 0.001                
Class A common stock                        
Class of Stock [Line Items]                        
Price per unit (in dollars per share) | $ / shares         $ 0.75     $ 0.75        
Common stock, par value (in dollars per share) | $ / shares       $ 0.001 0.001     0.001       $ 0.001
Shares held post conversion (in shares)       36,956                
Units converted (in shares)     1.25                  
Valuation (in dollars per share) | $ / shares         $ 10.00     $ 10.00        
Units converted (in shares)     17,456                  
Stock issued (in shares)   99,649                    
Units outstanding (in shares) 2,358,429       8,237,000     8,237,000       3,339,000
Units issued (in shares) 2,358,429       8,246,000     8,246,000       3,348,000
Conversion of shares upon issuance (in shares)   0.25                    
Additional shares (in shares) 8,595                      
Stock outstanding following combination (in shares) 2,367,244                      
Securities exercisable (in shares)   1                    
Class A common stock | Conversion of BCG Common Class A Units                        
Class of Stock [Line Items]                        
Shares issued in connection to conversion (in shares)     1,076,462                  
Class A common stock | Conversion of BCG Preferred B-2 Units                        
Class of Stock [Line Items]                        
Shares issued in connection to conversion (in shares)     1,175,632                  
Class A common stock | Avalon Warrants, Publicly Traded                        
Class of Stock [Line Items]                        
Warrant exercisable adjusted for the stock splits (in shares)   194,063                    
Class A common stock | Avalon Warrants, Private Placement                        
Class of Stock [Line Items]                        
Warrant exercisable adjusted for the stock splits (in shares)   101,250                    
Forward Purchase Agreement, Purchased Shares                        
Class of Stock [Line Items]                        
Purchase agreement, transaction shares (in shares)       13,305                
Forward Purchase Agreement, Prepaid Forward Shares                        
Class of Stock [Line Items]                        
Purchase agreement, transaction shares (in shares)       23,651           23,651    
Series A preferred stock                        
Class of Stock [Line Items]                        
Units converted (in shares)   1                    
Preferred stock, shares issued (in shares) 34,962 34,961     0     0       0
Preferred stock, shares outstanding (in shares) 34,962       0     0       0
Securities exercisable (in shares)   1                    
Avalon Class B Common Stock                        
Class of Stock [Line Items]                        
Common stock, par value (in dollars per share) | $ / shares   $ 0.0001                    
Class B                        
Class of Stock [Line Items]                        
Common stock, par value (in dollars per share) | $ / shares       $ 0.001 $ 0.001     $ 0.001       $ 0.001
Units converted (in shares)     1.25                  
Units converted (in shares)     191,405                  
Units outstanding (in shares) 239,256       239,000     239,000       239,000
Units issued (in shares) 239,256       239,000     239,000       239,000
Class B | Conversion of BCG Common Class B Units                        
Class of Stock [Line Items]                        
Shares issued in connection to conversion (in shares)     239,256