Benson Hill, Inc. - BHIL STOCK NEWS

Benson Hill, a food technology company, will host a webcast for retail investors on September 17, 2021, ahead of its anticipated merger with Star Peak Corp II (NYSE: STPC). The merger is expected to finalize by September 28, 2021, pending stockholder approval. Benson Hill is utilizing the Say Connect platform to enhance investor engagement, allowing retail investors to submit questions before the webcast. This initiative emphasizes the company's commitment to transparency and accessibility as it prepares for its public listing under the ticker symbol BHIL.

Benson Hill launched an advanced yellow pea breeding program aimed at enhancing the plant-based protein market. This initiative will develop non-GMO yellow pea varieties with better taste and higher protein content, potentially reducing processing costs. The yellow pea market is projected to reach $140 billion by 2029. The company has established a breeding station in North Dakota and is leveraging its CropOS® platform for innovation. This program aligns with Benson Hill's growth strategy in the food tech sector.

Benson Hill announced strong Q2 2021 results with revenues at $39.7 million, a 28% increase year-over-year. Adjusted gross profit reached $2.8 million (7% of sales), despite a reported net loss of $27.4 million. The Ingredients Segment saw a 64% revenue increase, driven by the commercialization of its proprietary soybean products. Additionally, the company has contracted 70,000 acres of soybeans for planting, a 133% growth. A merger with Star Peak Corp II is expected to finalize in Q3 2021, providing the combined entity with gross proceeds of $625 million.

Benson Hill, a food tech company, will release its Q2 2021 financial results on August 10, 2021, before market opens. A webcast led by senior management will follow at 8:30 a.m. ET to discuss the results. The company is set to merge with Star Peak Corp II (NYSE: STPC), transitioning to the NYSE under the new ticker BHIL. This merger is subject to shareholder approval, with a Registration Statement filed with the SEC detailing the proposed transactions. Stakeholders are encouraged to review the forthcoming proxy statement for vital information.

Benson Hill will participate in the Canaccord Genuity 41st Annual Growth Conference on August 11, 2021. CEO Matt Crisp and CFO DeAnn Brunts will host a webcast fireside chat at 10 a.m. ET and will conduct one-on-one investor meetings throughout the day. Investors can access the webcast here. The company is advancing its merger with Star Peak Corp II (NYSE: STPC), aiming for a public listing under the ticker BHIL following the merger. Additional details are available on the company’s investor relations site.

Benson Hill has appointed Bruce Bennett as President of its Ingredients business segment, aimed at enhancing global operations for its plant-based protein portfolio. Bennett will lead efforts to improve the supply chain for Benson Hill's proprietary, non-GMO soybean and the innovative Ultra-High Protein soybean ingredients. The company anticipates significant growth in its ingredients segment, driven by the increasing demand for sustainable food solutions, with the plant-based meat substitute market projected to reach $140 billion by 2029. This follows a reported 133% year-over-year growth in contracted soybean acreage.

Benson Hill has surpassed its goal of doubling contracted acres for its proprietary soybean varieties, achieving 70,000 acres for 2021, a 133% increase from 30,000 acres in 2020. The company is focusing on the commercialization of its Ultra-High Protein soybeans aimed at the human food ingredients market. With substantial growth anticipated in its ingredients segment, Benson Hill aims to capitalize on the plant-based meat substitute market, projected to reach $140 billion by 2029. The company's CropOS technology platform is set to enhance revenue visibility into 2022.

Benson Hill, Inc. hosted a virtual analyst meeting on June 22, 2021, discussing its CropOS® technology platform, growth strategy, and financial outlook. The plant-based food market is projected to reach $140 billion by 2029, while the overall agri-food market is valued at $5 trillion. The company generated $102 million in revenue in 2020 and anticipates 50-100% annual growth in the near term. The merger with Star Peak Corp II is expected to provide approximately $625 million in funding to support growth plans.