ALTO - Alto Ingredients announces $125M term loan facility

• Alto Ingredients ( NASDAQ: ALTO ) on Monday announced a $125M senior secured term loan facility with funds managed by Orion Infrastructure Capital.
• The term loan allows for periodic draws in an aggregate amount up to $100M, with an additional $25M available.
• The loan matures in six years and is not subject to scheduled amortization payments.
• The term loan has a fixed annual interest rate of 10% with an original issue discount of 1.5%.
• Alto ( ALTO ) will issue up to 1.6M shares to Orion.
• "The term loan gives us the capital we need to upgrade our plants to produce higher value products with better margins. Our near-term plans for the capital include expanding corn oil production, corn storage and specialty alcohol production. We also plan to pursue protein and yeast production expansion options, energy supply improvements, and carbon capture sequestration opportunities," said CFO Bryon McGregor.
• Alto ( ALTO ) also reported mixed Q3 results .

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