XML 57 R46.htm IDEA: XBRL DOCUMENT v3.25.3
De-SPAC Merger Transaction - Narrative (Details)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Jun. 08, 2023
shares
Jun. 07, 2023
USD ($)
$ / shares
shares
Jun. 06, 2023
subclass
$ / shares
shares
Jun. 05, 2023
USD ($)
category
$ / shares
shares
Jun. 30, 2025
USD ($)
$ / shares
shares
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Mar. 31, 2024
USD ($)
Mar. 31, 2025
USD ($)
$ / shares
shares
Sep. 30, 2024
shares
Aug. 06, 2024
shares
Class of Stock [Line Items]                      
Number of categories of shares | category       2              
New subclass of common units | subclass     1                
Discount rate     0.20                
Valuation (in dollars per share) | $ / shares     $ 800.00                
Discounted valuation (in dollars per share) | $ / shares     $ 640.00                
Compensation expense | $         $ 461 $ 994          
Cash and cash equivalents | $         7,612       $ 1,346    
Net proceeds | $   $ 1,800                  
Securities exercisable (in shares)                     1,325,382
Fair value | $         197       $ 227    
Gain (loss) on financial instruments | $         $ (45) $ (1,183)          
Conversion of BCG Common Class A Units                      
Class of Stock [Line Items]                      
Additional value | $             $ 15,000        
Compensation expense | $               $ 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    
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]                      
Common stock, par value (in dollars per share) | $ / shares       $ 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            
Issuance of stock (in shares)   99,649                  
Units outstanding (in shares) 2,358,429       9,416,000       8,474,000    
Units issued (in shares) 2,358,429       9,425,000       8,483,000    
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    
Preferred stock, shares outstanding (in shares) 34,962       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    
Units converted (in shares)     1.25                
Units outstanding (in shares) 239,256       239,000       239,000    
Units issued (in shares) 239,256       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