Deal with Project Viking finances working capital, corporate purposes
By Devika Patel
Knoxville, Tenn., May 25 - Heron Lake BioEnergy, LLC completed a $3.5 million private placement of units with Project Viking, LLC on May 19, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 7 million class B capital units at $0.50 apiece.
Proceeds will be used for general working capital and other corporate purposes.
Heron Lake is a private ethanol producer based in Heron Lake, Minn.
| Issuer: | Heron Lake BioEnergy, LLC
|
| Issue: | Class B capital units
|
| Amount: | $3.5 million
|
| Units: | 7 million
|
| Price: | $0.50
|
| Warrants: | No
|
| Investor: | Project Viking, LLC
|
| Settlement date: | May 19
|
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