Central MN Ethanol Co-op (CMEC) has signed a letter of intent to sell substantially all of its assets to Green Biologics. Based In Little Falls, Minnesota, CMEC is an ethanol production facility that produces 21 million gallons of ethanol per year. Ocean Park Advisors acted as the exclusive financial advisor to CMEC in connection with the sales process. The firm acted as financial advisor to CMEC on the sale of its minority stakes in Guardian Energy, KAAPA Ethanol and Bushmills ethanol earlier this year. Financial terms of the transaction were not disclosed and timing of the transaction closing is expected in 2014.- Greenbelt Resources Corporation, a provider of sustainable energy production systems, has announced the appointment of Joseph Pivinski to the executive team as interim chief financial officer. One of Joe’s first tasks is to update the company’s financial statements reported via OTC Markets. Pivinski served previously as CFO and senior vice president at NASDAQ-listed Consolidated Water Co., Ltd., and as vice president of finance and CFO for Oriole Homes Corp., a then-NASDAQ publicly traded residential real estate developer based in Florida.
- Green Plains Renewable Energy, Inc. has announced the pricing of its offering of $100 million aggregate principal amount of Convertible Senior Notes due 2018, which was upsized from the previously announced $75 million aggregate principal amount of notes. The notes will be offered and sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, by the initial purchasers of the notes. The Company has also granted the initial purchasers of the notes a 30-day option to purchase up to an additional $20 million aggregate principal amount of notes, solely to cover over-allotments.
- Suntech Power Holdings has announced a change in senior management, with David King stepping down as CEO and acting CFO and Zhou Weiping assuming the roles of interim CEO and interim CFO with immediate effect. The board of the Company will commence a search for a new CFO. Zhou will retain his roles as President and Director of the Company.
