Green Plains Inc. Completes Acquisition of Green Plains Partners LP
09 Januar 2024 - 10:30PM
Business Wire
Green Plains Inc. (NASDAQ: GPRE) (“Green Plains”) and Green
Plains Partners LP (NASDAQ: GPP) (the “Partnership”) today
announced the completion of the transactions contemplated by the
previously announced Agreement and Plan of Merger (the “Merger
Agreement”), pursuant to which Green Plains acquired all of the
publicly held common units of the Partnership not already owned by
Green Plains and its affiliates in exchange for a combination of
0.405 shares of Green Plains common stock and $2.00 in cash, plus
an amount of cash equal to unpaid distributions from the end of the
last quarter for which a quarterly distribution was made to the
closing date, as determined in accordance with the Merger
Agreement, without interest, for each outstanding common unit
representing a limited partner interest in the Partnership (the
“Merger”). As a result of the Merger, the Partnership became an
indirect wholly owned subsidiary of Green Plains and the
Partnership’s common units will no longer be listed on the NASDAQ,
and will be deregistered under the Securities Exchange Act of 1934,
as amended (the “Exchange Act”).
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the full release here:
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About Green Plains Inc.
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. For more information, visit
www.gpreinc.com.
Forward-Looking Statements
All statements in this press release (and oral statements made
regarding the subjects of this communication), including those that
express a belief, expectation or intention, may be considered
forward-looking statements (as defined in Section 21E of the
Exchange Act and Section 27A of the Securities Act of 1933, as
amended) that involve risks and uncertainties that could cause
actual results to differ materially from projected results. Without
limiting the generality of the foregoing, forward-looking
statements contained in this communication include statements
relying on a number of assumptions concerning future events and are
subject to a number of uncertainties and factors, many of which are
outside the control of Green Plains and the Partnership, which
could cause actual results to differ materially from such
statements. Accordingly, investors should not place undue reliance
on forward-looking statements as a prediction of actual results.
The forward-looking statements may include, but are not limited to,
statements regarding the expected benefits of the Merger to Green
Plains and the Partnership and their shareholders and unitholders,
respectively, including with respect to cash flow, expenses and
credit quality; the deregistration of the Partnership’s common
units and the timing thereof; and the expected future growth,
dividends and distributions of the combined company; and plans and
objectives of management for future operations. Forward-looking
statements may be identified by words such as “believe,” “intend,”
“expect,” “may,” “should,” “will,” “anticipate,” “could,”
“estimate,” “plan,” “predict,” “project” and variations of these
words or similar expressions (or the negative versions of such
words or expressions). While Green Plains and the Partnership
believe that the assumptions concerning future events are
reasonable, they caution that there are inherent difficulties in
predicting certain important factors that could impact the future
performance or results of their businesses. Among the factors that
could cause results to differ materially from those indicated by
such forward-looking statements are: the failure to realize the
anticipated costs savings, synergies and other benefits of the
Merger; the possible diversion of management time on Merger-related
issues; local, regional and national economic conditions and the
impact they may have on Green Plains, the Partnership and their
customers; disruption caused by health epidemics, such as the
COVID-19 outbreak; conditions in the ethanol and biofuels industry,
including a sustained decrease in the level of supply or demand for
ethanol and biofuels or a sustained decrease in the price of
ethanol or biofuels; commodity market risks, including those that
may result from weather conditions; the financial condition of
Green Plains’ or the Partnership’s customers; any non-performance
by customers of their contractual obligations; changes in customer,
employee or supplier relationships resulting from the Merger;
changes in safety, health, environmental and other governmental
policy and regulation, including changes to tax laws; the results
of any reviews, investigations or other proceedings by government
authorities; and the performance of Green Plains and the
Partnership following the Merger.
The foregoing list of factors is not exhaustive. The
forward-looking statements in this press release speak only as of
the date they are made and we assume no obligation and do not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by securities and other applicable laws. We have
based these forward-looking statements on our current expectations
and assumptions about future events. While our management considers
these expectations and assumptions to be reasonable, they are
inherently subject to significant business, economic, competitive,
regulatory and other risks, contingencies and uncertainties, most
of which are difficult to predict and many of which are beyond
Green Plains’ and the Partnership’s control. These risks,
contingencies and uncertainties relate to, among other matters, the
risks and uncertainties set forth in the “Risk Factors” section of
Green Plains’ and the Partnership’s respective Annual Reports on
Form 10-K for the year ended December 31, 2022, and Quarterly
Reports on Form 10-Q for the three months ended March 31, 2023,
June 30, 2023 and September 30, 2023, respectively, each filed with
the Securities and Exchange Commission (the “SEC”), and any other
reports filed with the SEC. These filings identify and address
other important risks and uncertainties that could cause actual
events and results to differ materially from those contained in the
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20240109001407/en/
Green Plains Inc. Contacts Investors: Phil Boggs |
Executive Vice President, Investor Relations | 402.884.8700 |
phil.boggs@gpreinc.com Media: Lisa Gibson | Communications
Manager | 402.952.4971 | lisa.gibson@gpreinc.com
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