Green Plains Inc. Announces Issuance of $200 Million Convertible Senior Notes

Green Plains Inc. has entered into an indenture for the issuance of $200 million in aggregate principal amount of 5.25% Convertible Senior Notes due 2030. The notes were issued in two tranches: $170 million in exchange for existing 2.25% Convertible Senior Notes due 2027 and $30 million in cash through subscription agreements. The notes will bear interest at 5.25% per annum, payable semi-annually, and are convertible into shares of the company's common stock at an initial conversion price of approximately $15.72 per share, representing a 50% premium over the last reported sale price of the common stock on October 21, 2025. The company used approximately $30 million of the net proceeds from the subscription transactions to repurchase approximately 2.9 million shares of its common stock. The notes are senior unsecured obligations and contain customary provisions for events of default, including payment defaults, covenant breaches, and bankruptcy events.