Alto Ingredients sells Stockton ethanol plant to Pelican Acquisition for $24M

Alto Ingredients, Inc.

Sale of ethanol plant and related assets in San Joaquin County, CA to Pelican Acquisition LLC.
Total consideration of $24 million, subject to closing adjustments.
Transaction closed on November 5, 2021, the same date as the agreement.
Seller is subsidiary Pacific Ethanol Stockton LLC; parent Alto Ingredients guarantees certain provisions.
Asset Purchase Agreement includes customary representations, warranties, and covenants.

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