secwatch.observer — SEC 8-K summary
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Issuer:     Benson Hill, Inc. (—)
CIK:        0001830210
Form:       8-K
Filed at:   2023-10-31T23:59:59+00:00
Accession:  0001830210-23-000178
Event type: m_and_a
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.03, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Benson Hill sells Seymour facility for $36M, amends loan with March 2024 maturity, appoints permanent CEO
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- Sold Seymour, IN soybean crush facility to White River Soy Processing for ~$36M gross proceeds; ~30 employees transferred.
- Fourth Amendment to loan: Maturity accelerated to March 1, 2024; prepayment fee set at 1%; final payment increased 500 bps.
- Loan requires prepayment of net asset-sale proceeds and equity proceeds; must maintain $20M unrestricted cash after certain conditions.
- Deanie Elsner appointed permanent CEO effective Oct 31, 2023; she had served as Interim CEO since June 2023.
- Company shifts to asset-light model, expands into animal feed markets; expects >12 months liquidity after debt payoff.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830210/000183021023000178/0001830210-23-000178-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830210/000183021023000178/bhil-20231031.htm
  HTML page:      https://secwatch.observer/filing/0001830210-23-000178

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer