Stock Alert: Green Plains Climbs 16% On Fluid Quip Stake Acquisition

(RTTNews) - Shares of Green Plains Inc. (GPRE), a Nebraska-based producer and distributor of ethanol, are rising more than 16 percent or $2.09 in Tuesday's morning trade at $14.90.

Tuesday, Green Plans said it has acquired a majority interest in Fluid Quip Technologies in a joint transaction led by Ospraie Management LLC. The terms of the transaction were not disclosed.

Green Plains noted that the acquisition capitalizes on the core strengths of the partners to develop and implement value-added agriculture, food and industrial biotechnology systems. The acquisition will also enable to rapidly expand installation of Ultra-High Protein production across Green Plains' facilities in parallel with offering these technologies to partnering biofuel facilities.

As part of the transaction, Ospraie acquired 550,000 warrants for Green Plains stock, each warrant equal to one share of stock, with a strike price of $22 per share. Green Plains has traded in a range of $3.77 to $17.76 in the past 52 weeks.