Green Plains Inc. has completed its acquisition of Green Plains Partners LP, the company announced today. The completion of the transaction resulted in the partnership becoming an indirect wholly owned subsidiary of Green Plains, with the partnership's common units no longer being listed on the NASDAQ.
As a result of the acquisition, Green Plains acquired all of the publicly held common units of the partnership not already owned by Green Plains and its affiliates. The exchange involved a combination of 0.405 shares of Green Plains common stock and $2.00 in cash, along with an amount of cash equal to unpaid distributions from the end of the last quarter for each outstanding common unit.
Following the completion of the merger, Green Plains provided insight into its focus as a leading biorefining company. "Green Plains is a leading biorefining company focused on the development and utilization of fermentation, agricultural and biological technologies in the processing of annually renewable crops into sustainable value-added ingredients," the company stated.
The company's stock experienced a -0.6% movement following the announcement and is currently trading at a price of $23.49 per share.
The company's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $2,984 | $2,417 | $1,924 | $2,827 | $3,663 | $3,497 |
| Revenue Growth | n/a | -18.99% | -20.42% | 46.96% | 29.56% | -4.52% |
| Operating Margins | 3% | -6% | -6% | 1% | -3% | -3% |
| Net Margins | 1% | -7% | -6% | -2% | -3% | -4% |
| Net Income (MM) | $16 | -$167 | -$109 | -$66 | -$127 | -$139 |
| Net Interest Expense (MM) | $87 | $40 | $40 | $67 | $33 | $35 |
| Depreciation & Amort. (MM) | $98 | $72 | $78 | $92 | $93 | $101 |
| Diluted Shares (MM) | 41 | 38 | 35 | 47 | 56 | 67 |
| Free Cash Flow (MM) | -$2 | -$85 | -$12 | -$183 | -$143 | -$58 |
| Capital Expenditures (MM) | $41 | $75 | $111 | $187 | $212 | $107 |
| Current Ratio | 1.45 | 1.23 | 1.42 | 2.37 | 1.91 | 1.88 |
