SOUTH 8 ENERGY, LLC: M&A transaction — Red Trail Energy sells substantially all assets to Gevo for $210M

SOUTH 8 ENERGY, LLC

Sale closed Jan 31, 2025; Gevo (NASDAQ: GEVO) acquired assets for $210M, subject to adjustments.
Cornerstone Bank loans repaid: $10M revolving note, $25M carbon-capture loan, plus $5.41M Ethanol Recovery Program loan.
CEO Jodi Johnson's employment agreement terminated; she remains CEO and received $25k closing award.
Grain merchandiser Ryan Weige terminated by company and hired by Gevo subsidiary.
Company no longer maintains operations following the asset sale.

item 1.02 item 2.01 item 5.02 item 9.01

Executive movements

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Departed

Ryan Weige

Grain Merchandiser

SOUTH 8 ENERGY, LLC

Effective: 2025-01-31
Filed: February 3, 2025, 6:59 PM ET

Ryan Weige, the Company’s Grain Merchandiser, was terminated by the Company and hired by a subsidiary of Gevo.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Ryan Weige was terminated as Grain Merchandiser at SOUTH 8 ENERGY, LLC.

Action: terminated
Role: Grain Merchandiser

Exact text from the filing

Ryan Weige, the Company’s Grain Merchandiser, was terminated by the Company and hired by a subsidiary of Gevo.

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

SOUTH 8 ENERGY, LLC completed a disposition involving Gevo, Inc. for $210 million (closed 2025-01-31).

Action: disposition
Counterparty: Gevo, Inc.
Consideration: $210 million
Closing: 2025-01-31

Exact text from the filing

On the Closing Date, the Company closed on the sale of substantially all of its assets for a purchase price of $210 million (subject to adjustment based on the terms of the Asset Purchase Agreement) (the “Purchase Price”) to the Buyers

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Source: SEC EDGAR

accession 0001359687-25-000008

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