Cardinal Ethanol, LLC completed the acquisition of Substantially all of the assets of Element, LLC.
January 30, 2024
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Cardinal Ethanol, LLC (OTCPK:CRDE) entered into an Asset Purchase Agreement to acquire Substantially all of the assets of Element, LLC for $44 million on October 23, 2023. The cash purchase price for the Purchased Assets is $44,000,000. The APA and the consummation of the sale transaction by Seller and Receiver is subject to approval by the court. Zach Fairlie of Spencer Fane LLP acted as legal advisor to Element, LLC. Miranda Hughes of BrownWinick Law Firm acted as legal advisor to the buyer.
Cardinal Ethanol, LLC (OTCPK:CRDE) completed the acquisition of Substantially all of the assets of Element, LLC on January 31, 2024.
Cardinal Ethanol, LLC and its subsidiaries is engaged in producing fuel-grade ethanol, distillers grains, corn oil and carbon dioxide near Union City, Indiana and sells these products throughout the continental United States. In addition, the Company procures, transports, and sells grain commodities through grain operations. Its divisions include ethanol and trading. Its ethanol division markets and sells ethanol and its co-products primarily in the continental United States using third party marketers. Its ethanol products are marketed by Murex, LLC and distillers grains are marketed by CHS, Inc. It markets and distributes all the corn oil it produces directly to end users and third-party brokers. The Company's trading division has a grain loading facility within its single site to buy, hold and sell inventories of agricultural grains, primarily soybeans. It performs no additional processing of these grains, unlike the corn inventory the Company holds and uses in ethanol production.
CARDINAL ETHANOL, LLC 
