Alto Ingredients Inc (ALTO)

[Bergycb]

Isnt it roughly the same amount of money the aurora grain coop agreed to pay Pacific Ethanol to buy into the joint venture?

"Pacific Ethanol has entered into an agreement with the Aurora Cooperative Elevator Company (ACEC), whereby Pacific Ethanol will contribute its Aurora plant assets into a newly created company, Pacific Aurora, LLC (PAL), and ACEC will simultaneously contribute its Aurora West Grain Elevator, loop track, related land and other assets into PAL. In addition, Pacific Ethanol will sell a 14% interest in PAL to ACEC for $30.0 million in cash. These transactions will result in Pacific Ethanol owning 74% and ACEC owning 26% of the combined ethanol production, grain elevator and rail facilities in Aurora, Nebraska. To further strengthen liquidity, PAL will obtain a five-year amortizing, revolving term loan of $30 million from CoBank secured by PAL’s assets. This loan will bear interest at LIBOR plus 4.00%. "