Benson Hill, Inc. - BHIL STOCK NEWS

Benson Hill (NYSE: BHIL), a seed innovation company, has announced a one-for-thirty five (1-for-35) reverse stock split following stockholder approval. The split will take effect at 4:01 p.m. Eastern Time on July 18, 2024, and will be reflected in NYSE trading on July 19, 2024. This move aims to regain compliance with NYSE's continued listing requirements, which mandate a minimum average closing price of $1.00 per share over any 30 consecutive trading days.

The reverse split will reduce the total number of outstanding shares from approximately 213 million to 6 million. It will not change the number of authorized shares, voting power, or other fundamental aspects of the company's structure. No fractional shares will be issued; instead, cash payments will be made for fractional entitlements.

Benson Hill (NYSE: BHIL) has announced advancements in its innovation pipeline for soybean traits targeting animal feed, soybean oil, and biofuel markets. The company aims to redefine U.S. soy with new varieties offering novel benefits across the agribusiness value chain. Key highlights include:

1. Herbicide-tolerant Ultra-High Protein Low-Oligosaccharide (UHP-LO) soybean varieties expected by 2026, a year earlier than planned.

2. Soybean varieties for biofuels launching between 2028 and 2030.

3. Expansion of soybean portfolio to approximately 35 varieties by 2025.

4. Development of 'dual value beans' that can deliver improved soybean meal with better quality oil for consumption or biofuels.

Benson Hill's competitive edge lies in its proprietary genetics, CropOS® AI-driven platform, and Crop Accelerator facility, enabling rapid advancements in yield, protein content, and maturity zones since 2019.

Benson Hill (NYSE: BHIL) has released its third annual ESG Report, highlighting its 2023 milestones and achievements in environmental, social, and governance areas. This year, Benson Hill has transitioned from an asset-heavy model to an asset-light one, focusing on licensing and partnerships to scale operations efficiently. CEO Deanie Elsner emphasized the company's commitment to ESG principles, innovation in soy quality traits, and meeting global demand for nutritious and sustainable feed, food, and fuel.

The report outlines significant business transformations, such as expanded market opportunities in feed and fuel, and the successful divestiture of soy processing assets. Key partnerships include collaborations with BioMar and Corteva Agriscience, as well as the recognition of technology leader Bob Koester with the Mockler Innovator Award. The company also detailed its intellectual property strategy and innovation platforms aimed at driving growth in various market segments. For comprehensive insights, visit Benson Hill's impact page.

Benson Hill has received a preliminary, non-binding interest from Argonautic Ventures to acquire all outstanding shares not owned by the Investor Group for $0.2236 per share in cash. Currently, the Investor Group and its affiliates own about 16% of Benson Hill's common stock.

The Board of Directors has formed a special committee to review strategic alternatives, retaining Piper Sandler & Co. as its financial advisor and Foley Hoag LLP as its legal advisor. The review will include due diligence and negotiation of definitive transaction documents.

No assurance is given that any transaction will occur, and further announcements will be made only if a specific transaction is approved or deemed necessary by the Board.

Benson Hill announced a transition to a licensing model, reporting revenues of $21.1 million with improved gross profit and reduced operating expenses. The company strengthened its balance sheet, divesting processing assets, retiring high-cost debt, and expanding partnerships. Strategic milestones were achieved, focusing on innovative soybean varieties, cost-effective animal feed solutions, and talent acquisitions. Despite a decrease in reported revenues, Benson Hill's profitability improved, with a focus on high-margin contracts.

Benson Hill, Inc. has appointed Dan Cosgrove as Chief Administrative Officer and General Counsel, effective May 10, 2024. Cosgrove, a former CEO of Growers Edge, brings extensive experience in the agriculture industry and will be responsible for business development, compliance, and legal matters at Benson Hill. The company aims to leverage his expertise to drive strategic initiatives and transition to an asset-light business model.

Benson Hill, Inc. (NYSE: BHIL) conducted a feeding trial with Perdue Farms, demonstrating the benefits of using soybean meal derived from their UHP-LO soybeans in broiler diets. The results showed a significant reduction in feed costs while maintaining performance due to the higher protein and metabolizable energy in their proprietary soybean genetics. This validates years of soybean breeding efforts and showcases the potential of their innovative soybean meal option in animal feed markets.

Benson Hill, an ag tech company, is set to release its financial results for the first quarter of 2024 on May 9, 2024. The results will showcase the company's performance and financial standing, providing investors with valuable insights into its growth trajectory.

Benson Hill, Inc. (NYSE:BHIL) announced financial results for 2023, retiring senior convertible debt, ending with $48.9 million in cash. Revenues increased by 24%, with a gross profit increase of $20.1 million. Net loss from continuing operations was $111.3 million. Adjusted EBITDA loss improved by over 40%. The company is focusing on an asset-light business model in animal feed markets.