Green Plains Renewable Energy, Inc. filed an S-1 today. The company is a startup and it intends to use the proceeds from its IPO for the purpose of constructing an operating a 50 million gallon per year ethanol plant near Shenandoah, Iowa. The company is seeking to raise $38 million in equity. It estimates that it will need to supplement the offering proceeds with debt in the approximate amount of $40 to $45 million.
Note: There is a huge amount of excellent ethanol related information in the S-1
From the S-1:
sec.gov
The Company
Green Plains Renewable Energy, Inc., an Iowa Corporation, was organized
on June 29, 2004 to construct and operate a dry mill, fuel grade ethanol plant
("Plant"). The Plant may be located near the town of Shenandoah, Iowa, elsewhere
in Iowa, or in Nebraska, (if the State of Nebraska were to create a tax
incentive plan that would make it feasible for us to do so). We have entered
into a letter of intent with an ethanol construction and engineering firm,
Fagen, Inc., who is expected to work with ICM, Inc. to design and construct our
proposed ethanol plant. Fagen, Inc. will be our design-builder and ICM, Inc.
will be Fagen, Inc.'s primary engineering subcontractor. These two firms have
developed, designed, and built numerous ethanol plants throughout the country.
Fagen, Inc. has been the principal contractor on over 28 ethanol projects and
has performed significant work on over 50 other projects. The letter of intent
is not a binding legal agreement, and until a binding agreement is executed,
either party may withdraw at any time without penalty or further obligation.
Prospective purchasers or representatives having questions or desiring
additional information should contact us at (702) 524-8928 or at our business
address: Green Plains Renewable Energy, Inc. 9635 Irvine Bay Court, Las Vegas,
NV 89147.
The Offering
We are offering common stock and warrants of Green Plains Renewable
Energy, Inc., an Iowa Corporation. As of the date of this prospectus, the common
stock presently represents our only outstanding equity security. We intend to
use the offering proceeds to pay for a portion of the construction and start-up
operational costs of a 50 million gallon per year ethanol plant expected to be
located in southwestern Iowa, elsewhere in Iowa, or in Nebraska. We will also
need to secure significant debt financing in order to complete the project. Our
financing plan therefore contemplates substantial leverage. This is our initial
public offering and no public market exists for our common stock. |
