M&A - Benson Hill, Inc.

Form Type: 8-K

Filing Date: 2025-02-13

Corporate Action: Acquisition

Type: New

Accession Number: 000183021025000009

Filing Summary: On February 12, 2025, Benson Hill, Inc. through its wholly-owned indirect subsidiary Dakota Dry Bean Inc. entered into an asset purchase agreement with Dakota Dry Bean, LLC. The agreement involves the sale of substantially all assets related to Dakota's pea products business for approximately $23.2 million. The deal closed on the same day, with an initial payment of $2.4 million and a holdback of $2.5 million for potential indemnification claims. Additionally, Dakota Dry Bean Inc. paid off approximately $18.4 million in debt to First National Bank of Omaha as part of the agreement. The agreement also includes customary indemnification, representations, and covenants. The company placed 43 employees on furlough as part of cost-reduction efforts and relocated its principal executive offices. This report is filed under the 8-K form to update stakeholders about significant corporate changes and acquisitions.