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Benson Hill receives acquisition interest from Argonautic Ventures

A Transaction Committee has been formed to evaluate strategic alternatives.

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Benson Hill, a seed innovation company, has announced receiving a preliminary, non-binding acquisition offer from Argonautic Ventures Master SPC on behalf of itself and other co-investors (the "Investor Group"). The offer proposes to acquire all outstanding shares of Benson Hill's common stock not already owned by the Investor Group or their affiliates for $0.2236 per share in cash.

The Investor Group, along with their affiliates, currently holds approximately 16% of Benson Hill's outstanding shares. The potential agreement is subject to several conditions, including a due diligence review and the negotiation of definitive transaction documents.

In response, Benson Hill’s Board of Directors has established a special committee of independent directors, named the "Transaction Committee," to assess the strategic alternatives. The Transaction Committee has enlisted Piper Sandler & Co. as its financial advisor and Foley Hoag LLP as its legal advisor.

The company emphasized that there is no guarantee the Transaction Committee or the Board will move forward with the proposed offer or any other transaction. Benson Hill will not make further announcements regarding the ongoing evaluations unless a specific transaction is approved or further disclosure is deemed necessary.

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