By Devika Patel
Knoxville, Tenn., June 7 - Advanced BioEnergy LLC completed a $10.35 million private placement of membership units on June 4, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 6.9 million units at $1.50 apiece.
Proceeds will be used to contribute $10 million in cash to subsidiary Heartland Grain Fuels, LP in connection with its restructuring.
Advanced BioEnergy is a renewable energy company based in Minneapolis.
| Issuer: | Advanced BioEnergy LLC
|
| Issue: | Membership units
|
| Amount: | $10.35 million
|
| Units: | 6.9 million
|
| Price: | $1.50
|
| Warrants: | No
|
| Settlement date: | June 4
|
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