Green Plains Renewable Energy, Inc.(Nasdaq:GPRE ) Announces Proposed Public Offering of Common Stock
Press Release Source: Green Plains Renewable Energy On Wednesday February 24, 2010, 4:45 pm EST
OMAHA, Neb., Feb. 24, 2010 (Investorideas.com Renewable/Green Newswire ) -- Green Plains Renewable Energy, Inc. (Nasdaq:GPRE ) announces that it is undertaking a proposed offering of 5,000,000 shares of its common stock. In addition, Green Plains Renewable Energy, Inc. has also granted the underwriters an option to purchase up to an additional 750,000 shares of common stock to cover over-allotments.
The Company intends to use the net proceeds of this offering for general corporate purposes. While the Company does not currently have any binding commitments or definitive agreements to enter into potential acquisitions, it may also use a portion of the net proceeds to acquire or invest in additional facilities, assets or technologies consistent with our growth strategy.
Jefferies & Company, Inc. and Piper Jaffray & Co. will act as joint book runners with Imperial Capital, LLC and Stephens Inc. acting as co-managers.
A copy of the preliminary prospectus supplement and the accompanying prospectus will be filed with the Securities and Exchange Commission and will be available on the SEC's website . Copies may also be obtained from Jefferies & Company, Inc., Equity Syndicate Middle Office, 520 Madison Avenue, 12th Floor, New York, NY 10022, or Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Minneapolis, MN 55042, or Imperial Capital, LLC, 485 Lexington Avenue, 28th Floor, New York, NY 10017 or Stephens Inc., 111 Center Street, Little Rock, AR 72201.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Green Plains Renewable Energy, Inc.
Green Plains Renewable Energy, Inc. (Nasdaq:GPRE - News) is North America's fourth largest ethanol producer, operating a total of six ethanol plants in Indiana, Iowa, Nebraska and Tennessee with annual expected operating capacity totaling approximately 480 million gallons. Green Plains also markets and distributes ethanol for four third-party ethanol producers with annual expected operating capacity totaling approximately 360 million gallons. Green Plains owns 51% of Blendstar, LLC, a biofuel terminal operator which operates nine blending or terminaling facilities with approximately 495 million gallons per year of total throughput capacity in seven states in the south central United States. Green Plains operates grain storage facilities and complementary agronomy and petroleum businesses in northern Iowa and southern Minnesota.
Safe Harbor
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements are identified by the use of words such as "anticipates," "estimates," "expects," "will," "predicts," "intends," "plans," "believes," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Such statements are based on management's current expectations and are subject to various factors, risks and uncertainties that may cause actual results, outcome of events, timing and performance to differ materially from those expressed or implied by such forward-looking statements. Green Plains may experience significant fluctuations in future operating results due to a number of economic conditions, including, but not limited to, competition in the ethanol and other industries in which the company competes; commodity market risks, financial market risks, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in the company's reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2009 and in the company's subsequent filings with the SEC. Green Plains assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The cautionary statements in this report expressly qualify all of our forward-looking statements. In addition, the company is not obligated, and does not intend, to update any of its forward-looking statements at any time unless an update is required by applicable securities laws.
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Showing posts with label Green Plains Renewable Energy. Show all posts
Showing posts with label Green Plains Renewable Energy. Show all posts
Thursday, February 25, 2010
Monday, December 22, 2008
Green Plains Renewable Energy, Inc. Announces Appointment of New Chief Executive
Green Plains Renewable Energy, Inc. Announces Appointment of New Chief Executive
OMAHA, NE--Dec 22, 2008 -- President and Chief Operating Officer Todd A. Becker has been named Chief Executive Officer of Green Plains Renewable Energy, Inc. (NasdaqGM:GPRE - News), effective January 1, 2009. Wayne B. Hoovestol, current Chairman and Chief Executive Officer, will remain as Chairman. Becker's appointment is consistent with the previously-announced transition plan following the closing of the merger with VBV LLC and its subsidiaries on October 15, 2008.
"In accepting the role of Chief Executive Officer," said Becker, "I am fortunate to be building upon a solid foundation and clear direction established by Wayne. Wayne's leadership moved Green Plains from construction and development of our ethanol plants to profitable operations and through several strategic acquisitions. Green Plains is establishing itself as a vertically-integrated, low-cost producer. We have a strong balance sheet and committed core of investors. My goal is to leverage these strengths to take advantage of new opportunities in the renewable energy space."
Becker joined Green Plains as President and Chief Operating Officer following completion of the VBV merger. He previously served as VBV's Chief Executive Officer and as Executive Vice President of Sales and Trading of Global Ethanol. Becker has more than 20 years of executive experience in agribusiness and renewable energy. He spent 10 years with ConAgra Foods in various management positions, including Vice President of International Marketing for ConAgra Trade Group and President of ConAgra Grain Canada.
"Todd is a talented executive with extensive experience running commodity-based businesses," said Hoovestol. "The Company has grown tremendously, and Becker has the skill, knowledge and know-how to lead Green Plains in the future."
"Ethanol is clean and green," continued Hoovestol. "And, ethanol is here, now, to help this nation address the critical issues of energy independence, climate change and economic stimulus. Green Plains is positioned to be an industry consolidator."
"Since the VBV merger closed, Mr. Becker has helped assemble a management team with risk management and operational expertise," concluded Hoovestol. "The shareholders should take comfort in knowing that the future of the Company is in such capable, competent hands."
About Green Plains
Green Plains, based in Omaha, Nebraska, is a vertically-integrated, low-cost ethanol producer. Green Plains' ethanol segment operates four ethanol plants in Iowa, Indiana and Tennessee with a combined expected operating capacity of 330 million gallons of ethanol per year. Green Plains' agribusiness segment operates grain storage facilities and complementary agronomy, feed, and fuel businesses. Green Plains has grain storage capacity of approximately 22 million bushels.
This news release may contain, among other things, certain forward-looking statements, with respect to Green Plains, as well as the goals, plans, objectives, intentions, expectations, financial condition, results of operations, future performance and business of Green Plains, including, without limitation, statements preceded by, followed by or that include the words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "projects," "outlook" or similar expressions. Although we believe that our expectations regarding future events are based on reasonable assumptions, any or all forward-looking statements in this report may turn out to be incorrect. They may be based on inaccurate assumptions or may not account for known or unknown risks and uncertainties. Consequently, no forward-looking statement is guaranteed, and actual future results may vary materially from the results expressed or implied in our forward-looking statements. The cautionary statements in this report expressly qualify all of our forward-looking statements. In addition, the Company is not obligated, and does not intend, to update any of its forward-looking statements at any time unless an update is required by applicable securities laws.
Contact: Company Contact: Scott B. Poor Corporate Counsel / Director of Investor Relations Green Plains Renewable Energy, Inc. (402) 884-8700 http://www.gpreinc.com Investor Contact: John Baldissera BPC Financial Marketing (800) 368-1217
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OMAHA, NE--Dec 22, 2008 -- President and Chief Operating Officer Todd A. Becker has been named Chief Executive Officer of Green Plains Renewable Energy, Inc. (NasdaqGM:GPRE - News), effective January 1, 2009. Wayne B. Hoovestol, current Chairman and Chief Executive Officer, will remain as Chairman. Becker's appointment is consistent with the previously-announced transition plan following the closing of the merger with VBV LLC and its subsidiaries on October 15, 2008.
"In accepting the role of Chief Executive Officer," said Becker, "I am fortunate to be building upon a solid foundation and clear direction established by Wayne. Wayne's leadership moved Green Plains from construction and development of our ethanol plants to profitable operations and through several strategic acquisitions. Green Plains is establishing itself as a vertically-integrated, low-cost producer. We have a strong balance sheet and committed core of investors. My goal is to leverage these strengths to take advantage of new opportunities in the renewable energy space."
Becker joined Green Plains as President and Chief Operating Officer following completion of the VBV merger. He previously served as VBV's Chief Executive Officer and as Executive Vice President of Sales and Trading of Global Ethanol. Becker has more than 20 years of executive experience in agribusiness and renewable energy. He spent 10 years with ConAgra Foods in various management positions, including Vice President of International Marketing for ConAgra Trade Group and President of ConAgra Grain Canada.
"Todd is a talented executive with extensive experience running commodity-based businesses," said Hoovestol. "The Company has grown tremendously, and Becker has the skill, knowledge and know-how to lead Green Plains in the future."
"Ethanol is clean and green," continued Hoovestol. "And, ethanol is here, now, to help this nation address the critical issues of energy independence, climate change and economic stimulus. Green Plains is positioned to be an industry consolidator."
"Since the VBV merger closed, Mr. Becker has helped assemble a management team with risk management and operational expertise," concluded Hoovestol. "The shareholders should take comfort in knowing that the future of the Company is in such capable, competent hands."
About Green Plains
Green Plains, based in Omaha, Nebraska, is a vertically-integrated, low-cost ethanol producer. Green Plains' ethanol segment operates four ethanol plants in Iowa, Indiana and Tennessee with a combined expected operating capacity of 330 million gallons of ethanol per year. Green Plains' agribusiness segment operates grain storage facilities and complementary agronomy, feed, and fuel businesses. Green Plains has grain storage capacity of approximately 22 million bushels.
This news release may contain, among other things, certain forward-looking statements, with respect to Green Plains, as well as the goals, plans, objectives, intentions, expectations, financial condition, results of operations, future performance and business of Green Plains, including, without limitation, statements preceded by, followed by or that include the words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "projects," "outlook" or similar expressions. Although we believe that our expectations regarding future events are based on reasonable assumptions, any or all forward-looking statements in this report may turn out to be incorrect. They may be based on inaccurate assumptions or may not account for known or unknown risks and uncertainties. Consequently, no forward-looking statement is guaranteed, and actual future results may vary materially from the results expressed or implied in our forward-looking statements. The cautionary statements in this report expressly qualify all of our forward-looking statements. In addition, the Company is not obligated, and does not intend, to update any of its forward-looking statements at any time unless an update is required by applicable securities laws.
Contact: Company Contact: Scott B. Poor Corporate Counsel / Director of Investor Relations Green Plains Renewable Energy, Inc. (402) 884-8700 http://www.gpreinc.com Investor Contact: John Baldissera BPC Financial Marketing (800) 368-1217
Published at The Investorideas.com Renewable Energy and GreenTech Business and Stock News RSS Feed: Subscribe : http://www.investorideas.com/RSS/feeds/RES.xml
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