secwatch.observer — SEC 8-K summary
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Issuer:     Andersons, Inc. (ANDE)
CIK:        0000821026
Form:       8-K
Filed at:   2023-04-21T23:59:59+00:00
Accession:  0000821026-23-000109
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Andersons: Ethanol JV ELEMENT placed into receivership; expects $85-95M impairment charge
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- ELEMENT, LLC (51%-owned JV) placed into receivership on Apr 18, 2023; plant in extended maintenance shutdown.
- Operational/market challenges including California LCFS credit shift and high western corn basis led to Feb 2023 debt default.
- ELEMENT's debt is non-recourse to Andersons; no impact on long-term EBITDA target.
- Expects preliminary non-cash pretax impairment of $85-95M, 51% attributable to company.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/821026/000082102623000109/0000821026-23-000109-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/821026/000082102623000109/ande-20230421.htm
  HTML page:      https://secwatch.observer/filing/0000821026-23-000109

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