Grain News

Lifeline Foods Completes Capital Restructuring

Date Posted: January 3, 2013

We are pleased to announce that Ascendant Consulting Partners, LLC, the wholly owned subsidiary of Ascendant Partners, Inc., acted as the exclusive financial advisor to Lifeline Foods, LLC, in a capital restructuring of its business.

The capital restructuring consisted of a $25M equity raise of preferred stock from existing shareholders and the extension of a new $20M revolving credit facility with Wells Fargo Capital Finance.

The proceeds of the preferred stock investment will be used to complete capital expenditures to upgrade mill efficiency, provide working capital, and to pay down debt.

This capital restructuring and liquidity injection strengthened Lifeline Food’s financial health, and the mill upgrade will be transformative for the business.

The state-of-the-art corn mill will nearly double the conversion of corn to food.

Lifeline’s unique process produces food, ethanol and a broad range of co-products that go into the feed and industrial markets.

Jay Lang, CFO of Lifeline, stated, “Ascendant did a great job of engineering the capital restructuring and was a valuable member of the team.”

Ascendant Partners, Inc., is a business and financial advisory firm dedicated to helping mid-size agribusiness, food and renewable energy companies protect and enhance shareholder value.

Ascendant lives where its clients live, shares a passion for what they do, and is dedicated to client success first.

For more information, call 303-221-4700.

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