By Marisa Wong
Milwaukee, Oct. 9 – Advanced BioEnergy LLC completed an additional $4.36 million private placement of membership units on Oct. 5, raising the size of the offering to $7.66 million, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 2.9 million units at $1.50 apiece to Hawkeye Energy Holdings, LLC for a total of 5.1 million units.
Advanced BioEnergy initially completed a $3.3 million private placement of membership units on Aug. 21. The company sold 2.2 million units at $1.50 apiece, as previously reported.
Proceeds of the offering were used to pay a portion of a term loan note issued to PJC Capital LLC, according to the filing.
Advanced BioEnergy is a renewable energy company based in Minneapolis.
| Issuer: | Advanced BioEnergy LLC
|
| Issue: | Membership units
|
| Amount: | $7.66 million
|
| Units: | 5.1 million
|
| Price: | $1.50
|
| Warrants: | No
|
| Investor: | Hawkeye Energy Holdings, LLC
|
| Settlement date: | Oct. 5
|
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