---
schema_version: "secwatch.filing_event.v1"
accession: "0001359687-24-000017"
form_type: "8-K"
ticker: null
cik: "0001359687"
company_name: "SOUTH 8 ENERGY, LLC"
filed_at: "2024-04-18T23:59:59+00:00"
generated_at: "2026-06-03T18:32:15.994169+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- $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.

## SEC filing metadata
- accession: 0001359687-24-000017
- form_type: 8-K
- cik: 0001359687
- company_name: SOUTH 8 ENERGY, LLC
- filed_at: 2024-04-18T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1359687/000135968724000017/0001359687-24-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1359687/000135968724000017/red-20240412.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001359687-24-000017
- JSON: https://secwatch.observer/filing/0001359687-24-000017.json
- Plain text: https://secwatch.observer/filing/0001359687-24-000017.txt

## Key facts
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1359687/000135968724000017/0001359687-24-000017-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.