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Latham & Watkins Advises Underwriters in Green Plains Inc.’s Upsized Concurrent Common Stock and Convertible Senior Notes Offerings

February 25, 2021
Bicoastal capital markets team represented the underwriters in the offerings by the biorefining company.

Green Plains Inc., a leading biorefining company, has announced the pricings of its underwritten public offerings of US$175 million of common stock at a price to the public of US$23 per share and US$200 million aggregate principal amount of its 2.25% convertible senior notes due 2027. The aggregate gross proceeds to the Company from the offerings, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately US$375 million, reflecting an increase from the previously announced US$150 million of common stock and US$150 million aggregate principal amount of notes. 

The Company has also granted the underwriters in the common stock offering a 30-day option to purchase up to an additional 1,141,500 shares of its common stock on the same terms and conditions and to the underwriters in the convertible notes offering a 30-day option to purchase up to an additional US$30 million aggregate principal amount of notes solely to cover over-allotments.

Latham & Watkins LLP represents the underwriters in the offerings with a capital markets team led by New York partner Greg Rodgers, Orange County partner Shayne Kennedy, and Los Angeles counsel Arash Aminian Baghai, with associates Andrew Blumenthal, Ryan Gold, and Jacob Walsh.