Cardinal Ethanol LLC: M&A transaction — Cardinal Ethanol subsidiary acquires idled ethanol facility in Colwich, KS for $44M

Cardinal Ethanol LLC

Cardinal Colwich, a wholly owned subsidiary, completed acquisition of substantially all assets of Element, LLC for $44 million.
The idled facility in Colwich, KS can produce ethanol, high protein distillers grains, and corn oil; idled since April 2023.
Purchase funded by cash on hand and a $22 million loan from First National Bank of Omaha.
Cardinal Colwich assumed certain liabilities related to assigned contracts and associated cure costs.

item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Cardinal Ethanol LLC completed an acquisition involving Element, LLC for $44,000,000 (closed 2024-01-31).

Action: acquisition
Counterparty: Element, LLC
Consideration: $44,000,000
Closing: 2024-01-31

Exact text from the filing

equipment, books and records, real property, permits, licenses, intellectual property rights and assets, inventory and spare parts. The consideration for the assets was $44,000,000. In addition, Cardinal Colwich assumed certain liabilities required to be performed after closing with respect to contracts assigned by Seller and assumed by Cardinal Colwich

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Source: SEC EDGAR

accession 0001352081-24-000004

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