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Benson Hill files for Chapter 11 Bankruptcy

A St. Louis, Missouri based seed innovation company has filed for Chapter 11 bankruptcy.

Benson Hill’s board of directors chairman Dan Jacobi says the move is the result of current industry challenges and financial constraints.

According to a media release, the business intends to sell its assets under Section 363 of the bankruptcy code.

Benson Hill has received a commitment of approximately $11 million in Debtor-in-Possession financing, which it says will help support its farmers, partners, and customers throughout the Chapter 11 process following court approval.

Motions have been filed for the company to continue operations through the process of the sale of assets.