Beneficient to acquire Mercantile Bank International Corp. for $1.5 million to expand the range of services

Beneficient Company, a provider of liquidity solutions and services for alternative assets, has entered into an agreement to acquire Mercantile Bank International Corp., a Puerto Rico-based financial entity, for $1.5 million. The acquisition is aimed at expanding Beneficient's range of services, including custody and fee-based services for alternative assets. It is expected to enhance Beneficient's existing offerings and introduce new services such as the issuance of depositary receipts for foreign investments.