Business Context and Reporting Period
Company: Green Plains Renewable Energy, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: November 15, 2005
Event: Closure of a public offering of common stock and related warrants.
Key Financial Metrics
- Gross Proceeds: $34,459,900 (excluding interest).
- Minimum Subscription Threshold: $29,667,000.
- Debt Financing Commitment: $47,000,000.
- Lenders: CoBank and Farm Credit Services of America.
- Revenue/Profit/Cash Flow: The filing text does not provide a clear value for operating revenue, profit, or cash flow metrics.
Material Changes
The company successfully satisfied the conditions for its "minimum/maximum, best efforts" offering. On November 10, 2005, the company secured a joint letter of commitment for $47,000,000 in construction and start-up financing. Consequently, the offering closed on November 15, 2005, releasing funds from escrow.
Outlook and Management Commentary
The financing obtained is designated for construction and start-up activities to execute the company's business plan. The letter of commitment from the lenders was subject to the execution of final definitive documentation. No specific forward-looking guidance or risk factors beyond the standard offering conditions were detailed in this specific report.
Investor Verification Checklist
- Verify the execution of final definitive documentation for the $47,000,000 debt commitment.
- Confirm the exact number of shares and warrants issued to calculate dilution.
- Review the terms of the escrow release and any interest earned on the proceeds.
- Assess the timeline for the commencement of construction and start-up financing drawdowns.