UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 1-U
CURRENT REPORT PURSUANT TO REGULATION A
Date of Report (Date of earliest event reported): May 18, 2020
SIOUXLAND RENEWABLE HOLDINGS, LLC
(Exact name of issuer as specified in its charter)
Nebraska |
| 84-3304485 | |
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1501 Knox Boulevard, Jackson, Nebraska |
| 68743 | |
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(402) 632-2676 |
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Title of each class of securities issued pursuant to Regulation A: |
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Units of Limited Liability Company Interests |
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Item 9. Other Events
On May 18, 2020, the Board of Managers (the “Board”) of Siouxland Renewable Holdings, LLC (the “Company”) voted to terminate the Company’s plans to identify and purchase the assets of an existing ethanol plant due to the impacts of the COVID-19 pandemic on fuel demand and the U.S. economy generally. As a result of the Board’s decision, the Company will return the aggregate proceeds of $60,280,000 in equity capital that it raised through the offering of units of limited liability company interests (“Units”) pursuant to both its offering of 5,000 Units conducted pursuant to Regulation A under the Securities Act of 1933, as amended (the “Securities Act”), and its separate offering of 2,000 Units conducted pursuant to Regulation D under the Securities Act. All funds raised by the Company from the sale of the Units have been held in two bank escrow accounts pending the satisfaction of certain conditions to their release to the Company, including the Company’s entry into a definitive purchase agreement for an ethanol plant. Since these conditions will not be met due to the Board’s decision to terminate the Company’s plans to identify and purchase an ethanol plant, the Company intends to instruct the escrow agent for both escrow accounts to return all escrowed funds to the subscribers for the Units commencing on or about May 27, 2020.
