Company files IPO for up to 3.8 million shares

Friday, Dec. 17, 2004 | 11:16 a.m.

WASHINGTON -- Green Plains Renewable Energy Inc. filed an initial public offering Thursday to sell up to 3.8 million common shares for $10 a share.

According to a form filed with the Securities and Exchange Commission, each share of Green Plains purchased includes a warrant to purchase one quarter of an additional share of common stock from the company at a purchase price of $30 per share.

Green Plains of Las Vegas said the shares will be offered on a best efforts basis, directly from its officers and directors.

The company said it intends to use proceeds from the offering to construct its dry mill, fuel grade ethanol plant and fund startup costs.

Green Plains is an energy company that was formed to produce ethanol.

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