Press release
Green Plains Enters into Agreement to Sell Obion, Tennessee Plant to POET
Strategic Review Concluded; Proceeds from Sale to Fully Retire Junior Mezzanine Notes OMAHA, Neb.--(BUSINESS WIRE)-- Green Plains Inc. (NASDAQ:GPRE) today
About this update from Green Plains, Inc.
[{"type":"text","content":"\nStrategic Review Concluded; Proceeds from Sale to Fully Retire Junior Mezzanine Notes\n\n\n OMAHA, Neb.--(BUSINESS WIRE)--\nGreen Plains Inc. (NASDAQ:GPRE) today announced that it has entered into an asset purchase agreement with POET to sell its Rives, Tennessee based ethanol plant for $190 million in cash, inclusive of an estimated $20 million of working capital, to be adjusted at closing. Proceeds from the sale will be utilized to retire the junior mezzanine debt due in 2026 and enhance liquidity. The transaction is anticipated to close during the third quarter of 2025, subject to customary closing conditions, regulatory approvals and contains standard representations, warranties, and indemnification obligations.\n\n\n“The sale of our Obion facility reflects our continued commitment to unlocking value for shareholders and strengthening our balance sheet,” said Chris Osowski, Chief Executive Officer. “We have been actively pursuing opportunities that align with our long-term strategy and support disciplined capital allocation. This divestiture not only demonstrates the strength of our asset portfolio but also enables us to fully retire our junior mezzanine notes — a significant milestone in enhancing our financial flexibility and advancing Green Plains’ carbon reduction strategy.”\n\n\nThe company also announced the conclusion of its strategic review process, which began in February 2024. Following a comprehensive evaluation, the Board of Directors considered a range of alternatives and determined that the company is best positioned to deliver shareholder value by executing its current strategy under existing leadership. This outcome of the review has provided a clear roadmap for continued operational execution and capital discipline.\n\n\nBMO Capital Markets Corp. and Moelis & Company served as financial advisors and Vinson & Elkins acted as legal advisors to Green Plains in connection with this transaction.\n\n\nAbout Green Plains Inc.\n\n\nGreen Plains Inc. (NASDAQ:GPRE) is a leading biorefining company advancing the transition to a low-carbon world through the production of renewable fuels and sustainable, high-impact ingredients. The company leverages agricultural, biological, and fermentation expertise to transform annually renewable crops into low-carbon energy and sustainable feedstocks. Green Plains is actively depl...