Benson Hill, Inc.: M&A transaction — Benson Hill closes sale of J&J Produce and Vero Beach facility for $21M

Benson Hill, Inc.

Closed sale of J&J Produce equity to Sweet Sixty for $3M cash; subject to adjustment for lost fixed assets.
Also sold real property (Vero Beach facility) for $18M; part of property leased back to seller.
$900,000 escrowed for indemnification; $450K released after 1 year, remainder after 2 years.
Transaction originally disclosed in January 2023; closing completed June 30, 2023.

Key facts

Extracted from this filing and checked against the source text.

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

Benson Hill, Inc. completed a disposition involving Sweet Sixty, LLC for aggregate cash consideration of $3 million, subject to adjustment for the value of certain fixed assets that have been sold, stolen, or destroyed, as set forth (closed 2023-06-30).

Action: disposition
Counterparty: Sweet Sixty, LLC
Consideration: aggregate cash consideration of $3 million, subject to adjustment for the value of certain fixed assets that have been sold, stolen, or destroyed, as set forth
Closing: 2023-06-30

Exact text from the filing

equity securities of J&J Produce, Inc. (“ J&J ”), and all of the outstanding equity securities of J&J’s subsidiaries, to the Buyer for aggregate cash consideration of $3 million, subject to adjustment for the value of certain fixed assets that have been sold, stolen, or destroyed, as set forth in the Stock Purchase Agreement (the “ Stock Sale ”). As

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Source: SEC EDGAR

accession 0001830210-23-000113

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