Published on 8/2/2013 in the Prospect News PIPE Daily.
Heron Lake BioEnergy seals $6.92 million private placement of units
Company offers class A units, class B units to investor Project Viking
By Devika Patel
Knoxville, Tenn., Aug. 2 - Heron Lake BioEnergy, LLC settled a private placement of units with Project Viking, LLC for $6.92 million on July 31, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 8,075,000 class A units and 15 million class B units at $0.30 per unit.
Proceeds were used to pay down the company's term revolver note with AgStar Financial Services, PCA.
Heron Lake is a private ethanol producer based in Heron Lake, Minn.
| Issuer: | Heron Lake BioEnergy, LLC
|
| Issue: | Class A units, class B units
|
| Amount: | $6,922,500
|
| Price: | $0.30
|
| Warrants: | No
|
| Investor: | Project Viking, LLC
|
| Settlement date: | July 31
|
|
|
| Class A units
|
| Units: | 8,075,000
|
|
|
| Class B units
|
| Units: | 15 million
|
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