The Beneficient Company and Avalon Acquisition Inc. Announce the Satisfaction of a Closing Condition Relating to Their Business Combination Agreement

DALLAS and SAN FRANCISCO, Oct. 03, 2022 (GLOBE NEWSWIRE) -- The Beneficient Company Group, L.P. (“Beneficient” or the “Company”), a technology-enabled platform providing liquidity, data, custody and trust services to holders of alternative assets, and Avalon Acquisition Inc. (NASDAQ: AVAC), a publicly traded special purpose acquisition company, today announced that Beneficient has delivered to Avalon its audited financials for calendar years 2020 and 2021, along with the transition period ended March 31, 2022, to Avalon. The audited financials for the period ended March 31, 2022, which reflect the seventh fiscal period of audited financials for Beneficient, reflect the Company’s change in its fiscal year end date to March 31 to better align with its industry’s practices.

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