In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Heron Lake BioEnergy LLC. (OTCMKTS:HLBYL) reported that Granite Falls Energy, Llc. has picked up 39,420,949 of common stock as of 2017-03-07.
The acquisition brings the aggregate amount owned by Granite Falls Energy, Llc. to a total of 39,420,949 representing a 50.58% stake in the company.
For those not familiar with the company, Heron Lake BioEnergy, LLC operates a dry mill fuel-grade ethanol plant in Heron Lake, Minnesota. The Company’s primary business is the production and sale of ethanol and co-products, including dried distillers grains and non-edible corn oil. The Company operates through two segments: Ethanol Production and Natural Gas Pipeline. The Ethanol Production segment includes the Company’s operations at its ethanol plant, including the production and sale of ethanol and its co-products. Its subsidiary, HLBE Pipeline Company, LLC, owns interest in Agrinatural Gas, LLC (Agrinatural). The Natural Gas Pipeline segment includes the Agrinatural’s natural gas pipeline. The principal products from the Company’s ethanol production are fuel-grade ethanol, distillers’ grains, non-edible corn oil, and miscellaneous sales of distillers’ syrup, a by-product of the ethanol production process. As of October 31, 2016, the Company’s ethanol plant had a capacity of 50 million gallons per annum.
A glance at Heron Lake BioEnergy LLC. (OTCMKTS:HLBYL)’s key stats reveals a current market capitalization of 74.04 Million based on 62.93 Million shares outstanding and a price at last close of $0.950 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2013-07-31, Project picked up at 15,000,000 a purchase price of $0.30. This brings their total holding to 15,000,000 as of the date of the filing.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Heron Lake BioEnergy LLC. (OTCMKTS:HLBYL) as things move forward to see if its progress aligns with these transactions.
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