secwatch.observer — SEC 8-K summary
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Issuer:     Benson Hill, Inc. (—)
CIK:        0001830210
Form:       8-K
Filed at:   2024-02-14T23:59:59+00:00
Accession:  0001830210-24-000012
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 1.02, 2.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Benson Hill sells Creston soy processing facility for $72M, retires $59M debt, appoints new CFO
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- Sold Creston, IA soy processing facility (Benson Hill Ingredients) to White River Creston for gross proceeds of $72M (including ~$19.5M working capital adj).
- Retired senior convertible debt facility ahead of schedule, paying ~$59M to fully extinguish obligations under Avenue Capital loan agreement.
- CFO Dean Freeman departing March 29, 2024; Susan Keefe appointed CFO effective same date, with base salary $462K and target bonus 50%.
- Separation agreement with Freeman provides $462,280 severance (12 months' base pay) plus prorated bonuses, subject to release.
- Management reiterates focus on seed innovation and asset-light partnership model; ~55 employees transferred to new owner.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830210/000183021024000012/0001830210-24-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830210/000183021024000012/bhil-20240213.htm
  HTML page:      https://secwatch.observer/filing/0001830210-24-000012

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