m_and_a
confidence high
sentiment negative
materiality 1.00
Benson Hill sells substantially all assets in Chapter 11; no proceeds for stockholders
Benson Hill, Inc.
- Sale closed May 23, 2025; total consideration includes $1M wind-down cash and $11M DIP credit facility credit bid.
- No proceeds expected to be available for distribution to common stockholders.
- Board of directors resigned effective May 22, 2025; Daniel Cosgrove named sole director and interim CEO as independent contractor.
- Cosgrove to be paid $278/hour for wind-down services, not expected to exceed 40 hours/month.
- Nasdaq suspended trading on March 27, 2025, and delisting proceeding underway.
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