Red Trail Energy enters $10M promissory note with Cornerstone Bank, prime minus 0.25% floor 7.5%, due April 2025

SOUTH 8 ENERGY, LLC

$10 million Promissory Note with Cornerstone Bank, maturing April 9, 2025.
Interest at prime rate minus 0.25%, with a minimum rate of 7.5%.
Rate adjusts monthly based on Wall Street Journal prime rate.
Loan secured by Modification of Mortgage expanding existing collateral.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

SOUTH 8 ENERGY, LLC entered into Promissory Note with Cornerstone Bank valued at $10 million (effective 2024-04-12).

Action: entry
Agreement: credit facility
Counterparty: Cornerstone Bank
Value: $10 million
Effective: 2024-04-12

Exact text from the filing

On April 12, 2024, Red Trail Energy, LLC (the "Company") entered into a Promissory Note for a $10 million loan (the "Promissory Note") with the Company's primary lender, Cornerstone Bank.

View on SEC.gov

419 material agreements filed in the last 30 days. Browse all material agreements →

Source: SEC EDGAR

accession 0001359687-24-000017

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.