Co-Manager
Green Plains Inc.
Equity Capital Markets
Follow-On Offering
Transaction Details
- On February 25, 2021, Green Plains Inc. (“Green Plains” or the “Company”) announced the upsizing and pricing of an underwritten public offering of $175 million of its common stock at a price to the public of $23.00 per share (the “follow-on offering”)
- Green Plains also announced a concurrent public offering of $200 million aggregate principal amount of 2.25% convertible senior notes due 2027 (the “notes offering”)
- Green Plains intends to use the net proceeds from the notes offering to repurchase approximately $135.5 million aggregate principal amount of its 4.125% convertible notes due 2022 (the “2022 notes”) in privately negotiated transactions concurrently with the offerings
- Green Plains intends to use the balance of the net proceeds from the notes offering, and the net proceeds from the follow-on offering, to repay the remaining outstanding balance of its 2022 notes at their maturity date and for general corporate purposes
About the company
Green Plains Inc. (Nasdaq: GPRE) is a leading biorefining company focused on the development and utilization of fermentation, agricultural and biological technologies in the processing of annually renewable crops into sustainable value-added ingredients. This includes the production of cleaner low carbon biofuels, renewable feedstocks for advanced biofuels and high purity alcohols for use in cleaners and disinfectants. Green Plains is an innovative producer of Ultra-High Protein and novel ingredients for animal and aquaculture diets to help satisfy a growing global appetite for sustainable protein.
Sources: Company filings and press release
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The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Equity Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Equity Syndicate Desk, or from the Securities and Exchange Commission’s website at www.sec.gov at the following link: https://www.sec.gov/Archives/edgar/data/1309402/000119312521054795/d124197d424b5.htm. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.
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