Benson Hill Files for Chapter 11 to Reorganize; Plans to Pursue Sale of Business, Units, Assets

MT Newswires Live03-20

Benson Hill (BHIL) filed for Chapter 11 bankruptcy protection from creditors during a reorganization Thursday in the US Bankruptcy Court for the District of Delaware.

The seed innovation company said it plans to pursue a sale of its business, including a sale of its assets, under the reorganization protection.

The company said in addition to cash reserves, it has received a commitment of around $11 million in debtor-in-possession financing, allowing it liquidity to continue operations throughout the process, once approved by the court.

The company also said it has filed a number of first-day motions to allow it to continue providing services to customers and honoring the obligations to its remaining employees during the process.

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