---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-040657"
form_type: "8-K"
ticker: null
cik: "0001371451"
company_name: "HIGHWATER ETHANOL LLC"
filed_at: "2026-06-04T15:19:09+00:00"
generated_at: "2026-06-04T15:20:18.971873+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Highwater Ethanol sells $14.3M of 2025 45Z tax credits to N.D. bank; buyer gets ROFR on future credits

## Summary
- Sold $14,307,388 of 2025 Section 45Z clean fuel production tax credits to a North Dakota banking corporation (buyer undisclosed).
- Purchase Price paid in cash on May 29, 2026; price ratio not disclosed.
- Buyer granted right of first refusal on up to $14M/year of 2026-2029 45Z credits on same terms.
- Conditions included binding tax credit insurance policy, PWA compliance, and verified emissions rate.
- Agreement may be terminated by mutual consent or by non-defaulting party on breach.

## SEC filing metadata
- accession: 0001628280-26-040657
- form_type: 8-K
- cik: 0001371451
- company_name: HIGHWATER ETHANOL LLC
- filed_at: 2026-06-04T15:19:09+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1371451/000162828026040657/0001628280-26-040657-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1371451/000162828026040657/highwater-20260529.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-040657
- JSON: https://secwatch.observer/filing/0001628280-26-040657.json
- Plain text: https://secwatch.observer/filing/0001628280-26-040657.txt

## Key facts
- Material Agreements
  HIGHWATER ETHANOL LLC entered into Tax Credit Purchase Agreement with a North Dakota banking corporation valued at $14,307,388 (effective 2026-05-29).
  - Action: entry
  - Counterparty: a North Dakota banking corporation
  - Value: $14,307,388
  - Effective: 2026-05-29
  source text: On May 29, 2026, Highwater Ethanol, LLC (the "Company") and a North Dakota banking corporation (the "Buyer") entered into a Tax Credit Purchase Agreement (the "Agreement") and closed on the sale of $14,307,388 worth of 2025 tax credits associated with U.S. federal clean fuel production incentives under Section 45Z of the Internal Revenue Code with respect to the Company's ethanol plant.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1371451/000162828026040657/0001628280-26-040657-index.htm

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