Benson Hill receives preliminary indication of interest from Argonautic

Benson Hill confirmed that it has received a preliminary, non-binding indication of interest from Argonautic Ventures Master SPC, on behalf of itself and other co-investors, to acquire all of the outstanding shares of common stock of the Company not owned by the Investor Group or their affiliates for $0.2236 per share in cash. The indication of interest states that the Investor Group and their affiliates currently own approximately 16% of the outstanding shares of common stock of the Company and that the composition of the Investor Group may change. The terms of any potential agreement between Benson Hill and Argonautic, or any other members of the Investor Group, would be contingent on certain conditions, including completion of a due diligence review and the negotiation of definitive transaction documents. Benson Hill’s Board of Directors has formed a special committee of independent directors to review certain strategic alternatives. The Transaction Committee will carefully evaluate the indication of interest within the context of the Company’s ongoing review of strategic alternatives. The Transaction Committee has retained Piper Sandler & Co. as its financial advisor and Foley Hoag LLP as its legal advisor.