Green Plains subsidiary files IPO

Green Plains has announced that its newly-formed subsidiary, Green Plains Partners (the partnership), has confidentially submitted a draft registration statement on Form S-1 with the US Securities and Exchange Commission.

The registration statement is for a proposed underwritten initial public offering (IPO) of common units representing limited partner interests in the newly-formed partnership. It is anticipated that the IPO will raise approximately $200-$250 million (€189-236 million) in gross proceeds. The date, number of common units to be sold and the price range for the proposed IPO have not yet been determined and are subject to a number of factors, including market conditions.

It is expected that the initial assets of the partnership will consist of Green Plains' downstream ethanol transportation and storage assets located in 12 states throughout the Midwest and southeast US.

This announcement is being made pursuant to, and in accordance with, Rule 135 under the Securities Act of 1933. A registration statement relating to these securities has been confidentially submitted with the US Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

 

SOURCE: Green Plains