Benson Hill, Inc.: restructuring charge — Benson Hill amends 8-K with $3.6M cost estimate for liquidity plan; $23.1M annual savings

Benson Hill, Inc.

One-time expenses of ~$3.6M for Liquidity Improvement Plan: $2.5M for Seymour facility strategic options, $1.1M for severance.
Plan aims to improve liquidity by $65M-$75M by end of 2024, with annual cost savings of ~$23.1M.
Actions expected substantially complete by December 31, 2023.
Total cash charges estimated at $3.6M; no additional details on financing or execution.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Benson Hill, Inc. announced a restructuring with charges of approximately $3.6 million affecting Seymour, Indiana facility.

Type: restructuring
Charge: approximately $3.6 million
Affected area: Seymour, Indiana facility

Exact text from the filing

The Company now estimates it will incur approximately $3.6 million in one-time expenses in connection with the Plan. Included in this amount are approximately $2.5 million in costs attributable to the Company’s exploration and possible execution of strategic options for its Seymour, Indiana facility, and approximately $1.1 million of expenses the Company expects to incur relating to employee severance and benefits costs.

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Source: SEC EDGAR

accession 0001830210-23-000090

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