Beneficient Expands Services with Acquisition of Mercantile Bank International

Beneficient, a technology-enabled platform providing exit opportunities and primary capital solutions for alternative assets, has entered into an agreement to acquire Mercantile Bank International Corp., an International Financial Entity based in Puerto Rico, for $1.5 million. The acquisition, payable in shares and cash, aims at expanding Beneficient's alternative asset custody services, providing new revenue streams, and democratizing access to alternative asset investment markets. This move allows Beneficient to offer advanced custody services with potentially higher fee rates and extend its market reach to large institutional investors and international jurisdictions. The acquisition is pending regulatory approval from the Office of the Commissioner of Financial Institutions of Puerto Rico and is expected to close by the second quarter of 2025. Beneficient aims to leverage this acquisition to broaden its service offerings and increase its market footprint in alternative asset custody, integrating Mercantile Bank’s operations to deliver enhanced services and new business lines, potentially involving depositary receipts.