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Green Plains Green Plains Reports First Quarter 2021 Financial Results May 3 , 2021 Results for the First Quarter of 2021 : • Net loss attributable to the company of $ 6.5 million , or $ ( 0.17 ) per diluted share inclusive of a $ 36.9 million gain related to the sale of certain assets and a $ 22.1 million charge related to the extinguishment of convertible notes • Adjusted EBITDA of $ 15.4 million , exclusive of a $ 36.9 million gain related to the sale of certain assets • Consolidated crush margin of $ 0.11 per gallon , significantly better than the prior year's first quarter • Strong liquidity position , with cash , cash equivalents and restricted cash of $ 654.4 million and $ 330.4 million available under committed credit facilities • Fully funded its Total Transformation Plan during the quarter by completing over $ 600.0 million in transactions while retiring over $ 170.0 million of debt OMAHA , Neb . , May 03 , 2021 ( GLOBE NEWSWIRE ) -- Green Plains Inc. ( NASDAQ : GPRE ) today announced financial results for the first quarter of 2021. Net loss attributable to the company was $ 6.5 million , or $ ( 0.17 ) per diluted share inclusive of a gain on the sale of certain assets of $ 36.9 million and a $ 22.1 million charge related to extinguishment of convertible notes compared with a net loss of $ 16.4 million , or $ ( 0.47 ) per diluted share , for the same period in 2020. Revenues were $ 553.6 million for the first quarter of 2021 compared with $ 632.9 million for the same period last year . First Quarter Highlights • Announced the acquisition of a majority stake in Fluid Quip Technologies , along with Ospraie Management • Produced 58 % sustainable Ultra - High Protein at its Shenandoah , Iowa biorefinery through development efforts between Green Plains , Fluid Quip Technologies and other innovation partners • Announced construction plans for MSC Ultra - High Protein at its Obion , Tenn . and Mount Vernon , Ind . facilities • Completed the USP upgrade at its York , Neb . location • Announced a clean sugar project at its York , Neb . Innovation Center to produce dextrose to target applications in food production , renewable chemicals and synthetic biology • Funds and accounts managed by BlackRock invested in Fluid Quip Technologies and completed a $ 125.0 million , 5 - year junior mezzanine note facility • Announced a partnership with Summit Carbon Solutions which is developing one of the largest carbon capture and sequestration projects in the world , capable of capturing and sequestering more than 10 million tons of carbon dioxide annually upon completion • Completed concurrent offerings of 8,751,500 shares of common stock at $ 23 per share and $ 230.0 million aggregate principal of convertible senior notes due 2027 , of which $ 156.5 million was used to repurchase a portion of the 4.125 % convertible senior notes due 2022 • Completed the sale of its plant located in Ord , Neb . to GreenAmerica Biofuels Ord LLC for $ 64.0 million plus working capital " Our first quarter was transformative to both our balance sheet and our technology platform . Additionally , our 1.0 platform performed well , as our risk management and hedging programs were beneficial to the quarter , " said Todd Becker , president and chief executive officer . " Fully funding our Total Transformation Plan to deploy Fluid Quip's protein technology was a critical step in building the biorefinery platform of the future . The milestones achieved during the quarter have moved us along the path to achieving our 2024 financial goals , including partnering with BlackRock and Ospraie Management in the acquisition of Fluid Quip Technologies to transform Green Plains into a global leading ag tech company focused on value added , low carbon novel agricultural ingredients . " " We achieved a number of impressive milestones in the first quarter across every phase of our transformation , including protein , sugar , corn oil , and carbon , culminating with successful capital raises to provide the liquidity necessary to achieve our vision for Green Plains 2.0 , " added Becker . " Moving forward , we are focused on announcing the construction sequence of MSC Ultra - High Protein deployment , finalizing our selection of a general contractor to build our Ultra - High Protein technology across our biorefinery platform , finalizing Project 24 , beginning production of Ultra - High Protein at our Wood River , Nebraska biorefinery and startup of clean sugar production at our York Innovation Center . Even more exciting are the advancements we are seeing in Ultra - High Protein purities , renewable corn oil yields and innovations in yeasts , oils and sugars . Across our platform we believe we are on track to achieve our 2024 financial goals . " " Today , we are stronger financially than ever before , with more than $ 650 million in cash at the end of the quarter as a result of executing on a number of key transactions , demonstrating our dedication to transforming our business to Green Plains 2.0 , " added Becker . " Our capital raise combined with further portfolio optimization from the sale of Ord were important steps in fully funding our Ultra - High Protein buildout while maintaining strong liquidity . "