Green Plains’ Common Stock and Convertible Senior Notes Offerings

Latham & Watkins LLP represented the underwriters in the offerings.

Green Plains Inc., a leading biorefining company, has announced the pricings of its underwritten public offerings of US$175 million of common stock at a price to the public of US$23 per share and US$200 million aggregate principal amount of its 2.25% convertible senior notes due 2027. The aggregate gross proceeds to the Company from the offerings, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately US$375 million, reflecting an increase from the previously announced US$150 million of common stock and US$150 million aggregate principal amount of notes. 

The Company has also granted the underwriters in the common stock offering a 30-day option to purchase up to an additional 1,141,500 shares of its common stock on the same terms and conditions and to the underwriters in the convertible notes offering a 30-day option to purchase up to an additional US$30 million aggregate principal amount of notes solely to cover over-allotments.

Jefferies and BofA Securities acted as joint book-running managers for both the common stock and convertible notes offerings. Roth Capital Partners, Stephens Inc., Truist Securities, Inc. and Craig-Hallum Capital Group acted as co-managers of the common stock offering and BMO Capital Markets Corp. and Truist Securities, Inc. acted as co-managers of the convertible notes offering.

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. The Company also owns a 48.9% limited partner interest and a 2.0% general partner interest in Green Plains Partners LP.

Latham & Watkins LLP represented the underwriters in the offerings with a capital markets team led by New York partner Greg Rodgers (Picture), Orange County partner Shayne Kennedy, and Los Angeles counsel Arash Aminian Baghai, with associates Andrew Blumenthal, Ryan Gold, and Jacob Walsh.

Involved fees earner: Arash Aminian Baghai – Latham & Watkins; Andrew Blumenthal – Latham & Watkins; Ryan Gold – Latham & Watkins; Shayne Kennedy – Latham & Watkins; Gregory Rodgers – Latham & Watkins; Jacob Walsh – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: Bank of America Securities; BMO Capital Markets; Craig-Hallum Capital Group LLC; Jefferies; Roth Capital Partners, LLC; Stephens Inc.; Truist Securities Inc. ;

Martina Bellini

Author: Martina Bellini