CHS selling $75 million of 7.875% preferreds to redeem outstanding equity certificates

By Stephanie N. Rotondo

Seattle, Jan. 25 – CHS Inc. registered $75 million of its 7.875% class B series 1 cumulative redeemable preferred stock in a Form S-1 filed with the Securities and Exchange Commission on Monday.

The preferreds – which are listed on the Nasdaq Global Select Market under the ticker “CHSCO” – will be used to redeem “patrons’ equities” sold to non-individual “active patrons” holding qualified capital equity certificates greater or equal to $500.

CHS will not receive any cash proceeds from the sale.

Dividends are payable quarterly. The preferreds become redeemable at par plus accrued dividends on or after Sept. 26, 2023.

Holders can force a redemption within 90 days of a change of control.

CHS is an Inver Grove Heights, Minn.-based integrated agricultural company.

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