Business Context and Reporting Period
This Form 8-K filing by Green Plains Renewable Energy, Inc. covers events occurring between November 14, 2007, and November 20, 2007. The company is incorporated in Iowa and operates in the renewable energy sector, specifically ethanol production.
Key Financial Metrics
The filing reports a private placement of 1.2 million shares of common stock to nine accredited investors at $8.10 per share, generating net proceeds of approximately $9.7 million. The filing does not provide comprehensive revenue, profit, cash flow, margin, or debt figures for the reporting period.
Material Changes
- Capital Raise: Completed a private placement on November 14, 2007, raising approximately $9.7 million.
- Board Appointment: Gary R. Parker was appointed to the Board of Directors on November 16, 2007, to fill a vacant seat expiring in 2010.
- Operational Milestone: Held the grand opening celebration for its Shenandoah, Iowa ethanol plant on November 17, 2007.
Guidance, Outlook, and Management Commentary
Management highlighted the successful grand opening of the Shenandoah plant. The appointment of Mr. Parker, who founded Center Ethanol Company LLC (constructing a 54 million gallon ethanol plant), suggests strategic alignment with industry expansion. The filing does not contain specific financial guidance, risk factors, or contingencies beyond the standard disclosure of the private placement and board changes.
Investor Verification Checklist
- Verify the final closing details and use of proceeds for the $9.7 million private placement.
- Confirm the operational capacity and production status of the Shenandoah, Iowa ethanol plant following its grand opening.
- Review the full background and potential conflicts of interest regarding the new director, Gary R. Parker, given his ownership of GP&W Inc. and Center Ethanol Company LLC.
- Check subsequent filings for updated liquidity positions following the capital raise.