White River Soy Processing, LLC acquired Benson Hill Ingredients, LLC from Benson Hill, Inc. for approximately $72 million.
February 12, 2024
Share
White River Soy Processing, LLC acquired Benson Hill Ingredients, LLC from Benson Hill, Inc. (NYSE:BHIL) for approximately $72 million on February 13, 2024. Upon Closing, $3.4125 million of the Purchase Price (the ? Holdback ?) and $4.95 million of the Purchase Price (the ? Carryback ?) was held back by White River. The Holdback, less any amounts due to White River under the terms of the MIPA, shall be paid to Seller within five days following the twelve-month anniversary of the Closing. The Carryback will be paid by White River to Seller pursuant to the terms of a promissory note executed by White River, and guaranteed by Ingredients, on February 13, 2024 (the ? Promissory Note ?). Under the Promissory Note, and subject to its terms and conditions, the Carryback will be paid in four equal installments on November 24, 2024, February 25, 2025, May 25, 2025, and August 25, 2025. O'neill, Heinrich, Damkroger, Bergmeyer & Shultz, P.C., L.L.O. acted as a legal advisor to White River Soy Processing, LLC. Koley Jessen acted as a legal advisor to Benson Hill, Inc.
White River Soy Processing, LLC completed the acquisition of Benson Hill Ingredients, LLC on February 13, 2024.
Benson Hill, Inc. is an ag-tech company. The Company offers CropOS, which is a product design and development platform that uses predictive breeding and other advanced tools like CRISPR gene editing technology. The Company is engaged in the sale of soybean grain, soybean oil, soybean meal, soybean flakes and soybean flour and texturized flour, sales of processed yellow peas and sales of seed, as well as technology licensing fees and royalties. Its CropOS platform aggregates proprietary protein, genomic, and strategic data layers for predictive breeding using artificial intelligence (AI) and machine learning (ML) and its Crop Accelerator, an indoor year-round speed breeding and rapid prototyping facility. It is developing a diversified seed portfolio spanning the key markets, such as protein ingredients, aquaculture and specialty animal feed, and vegetable oils. The Company sells its products throughout North America, in Europe and in several countries globally.
BENSON HILL, INC. 