secwatch.observer — SEC 8-K summary
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Issuer:     Golden Growers Cooperative (GGROU)
CIK:        0001489874
Form:       8-K
Filed at:   2022-02-25T23:59:59+00:00
Accession:  0001826466-22-000004
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Golden Growers Cooperative consents to Cargill exercising option to buy 50% of ProGold; Cooperative buys remaining 1%
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- Cargill exercised option to purchase a 50% interest in ProGold LLC from American Crystal Sugar Company.
- Golden Growers Cooperative consented to the transfer and will buy American Crystal's remaining 1% interest, making Cargill and Cooperative each own 50% of ProGold.
- Operating Agreement sets a six-member board with three appointed by each owner; sale of ProGold requires mutual consent.
- At closing, Cargill will pay Golden Growers $1.28 million as early buyout of previously committed capital projects.
- Lease Agreement: Cargill pays ProGold annual rent of $15.5 million in 2022-2023, $16 million in 2024-2026, plus infrastructure maintenance costs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1489874/000182646622000004/0001826466-22-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1489874/000182646622000004/ggro-20220225.htm
  HTML page:      https://secwatch.observer/filing/0001826466-22-000004

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