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SCHEDULE 13D/A 0001836192 XXXXXXXX LIVE 6 Common Stock, par value $0.001 per share 05/07/2025 false 0001309402 393222104 Green Plains Inc. 1811 AKSARBEN DRIVE OMAHA NE 68106 FREDRICK DISANTO 216-825-4000 C/O ANCORA HOLDINGS GROUP, LLC 6060 Parkland Boulevard, Suite 200 Cleveland OH 44124 ANDREW FREEDMAN 212-451-2300 OLSHAN FROME WOLOSKY LLP 1325 Avenue of the Americas New York NY 10019 0001836192 N Ancora Alternatives LLC a AF OO N OH 0.00 5834040.00 0.00 5834040.00 5834040.00 N 8.7 IA OO Note to rows (8)(10)(11)(13): Includes an aggregate of 1,504,140 Shares due to ownership of certain Warrants, as further explained in Item 4 and Item 5. 0001694450 N Ancora Merlin, LP a WC N DE 0.00 63961.00 0.00 63961.00 63961.00 N 0 PN Note to rows (8)(10)(11)(13): Includes an aggregate of 30,937 Shares due to ownership of certain Warrants, as further explained in Item 4 and Item 5. 0001431892 N ANCORA MERLIN INSTITUTIONAL, LP a WC N DE 0.00 1115537.00 0.00 1115537.00 1115537.00 N 1.7 PN Note to rows (8)(10)(11)(13): Includes an aggregate of 539,572 Shares due to ownership of certain Warrants, as further explained in Item 4 and Item 5. 0001694346 N Ancora Catalyst, LP a WC N DE 0.00 106309.00 0.00 106309.00 106309.00 N 0 PN Note to rows (8)(10)(11)(13): Includes an aggregate of 59,565 Shares due to ownership of certain Warrants, as further explained in Item 4 and Item 5. 0001620142 N Ancora Catalyst Institutional, LP a WC N DE 0.00 1100843.00 0.00 1100843.00 1100843.00 N 1.6 PN Note to rows (8)(10)(11)(13): Includes an aggregate of 532,465 Shares due to ownership of certain Warrants, as further explained in Item 4 and Item 5. 0001991780 N Ancora Bellator Fund, LP a WC N DE 0.00 706242.00 0.00 706242.00 706242.00 N 1.1 PN Note to rows (8)(10)(11)(13): Includes an aggregate of 341,601 Shares due to ownership of certain Warrants, as further explained in Item 4 and Item 5. 0001873269 N Ancora Impact Fund LP - Series Q a WC N DE 0.00 400904.00 0.00 400904.00 400904.00 N 0 PN This Series Q is part of a series of Ancora Impact Fund LP, a series limited partnership. 0001873416 N Ancora Impact Fund LP - Series S a WC N DE 0.00 822563.00 0.00 822563.00 822563.00 N 1.2 PN This Series S is part of a series of Ancora Impact Fund LP, a series limited partnership. 0001873427 N Ancora Impact Fund SPC Ltd. - Segregated Portfolio H a WC N E9 0.00 1021660.00 0.00 1021660.00 1021660.00 N 1.5 CO 0001657660 N ANCORA FAMILY WEALTH ADVISORS, LLC a AF OO N OH 0.00 6675.00 0.00 6675.00 6675.00 N 0 IA OO Y Inverness Holdings LLC a AF OO N DE 0.00 6675.00 0.00 6675.00 6675.00 N 0 CO Y Ancora Holdings Group, LLC a AF OO N OH 0.00 5840715.00 0.00 5840715.00 5840715.00 N 8.7 CO Note to rows (8)(10)(11)(13): Includes an aggregate of 1,504,140 Shares due to ownership of certain Warrants, as further explained in Item 4 and Item 5. 0001498290 N DiSanto Frederick D. a OO N X1 4000.00 5840715.00 4000.00 5840715.00 5844715.00 N 8.7 IN Note to rows (8)(10)(11)(13): Includes an aggregate of 1,504,140 Shares due to ownership of certain Warrants, as further explained in Item 4 and Item 5. Common Stock, par value $0.001 per share Green Plains Inc. 1811 AKSARBEN DRIVE OMAHA NE 68106 The following constitutes Amendment No. 6 to the Schedule 13D filed by the undersigned ("Amendment No. 6"). This Amendment No. 6 amends the Schedule 13D as specifically set forth herein. Item 4 is hereby amended to add the following: On May 7, 2025, Ancora Alternatives and the Issuer entered into a Secured Line of Credit Agreement (the "Credit Agreement"). The Credit Agreement secures a $30 million revolving credit facility, matures on July 30, 2025, bears interest at 10% on borrowings, and has a 0.5% fee on the unused balance. Interest and fees are due on the fifth of each month. Additionally, in connection with the Credit Agreement, the Issuer issued 1,504,140 stock warrants at a strike price of $0.01 per share (the "Warrants") to certain of the Reporting Persons, and such Reporting Persons and the Issuer entered into a Warrant Agreement to Purchase Common Stock (the "Warrant Agreements"). The Warrants are exercisable at the option of the holder at any time prior to May 7, 2035, and entitle the holder to purchase from the Issuer one fully paid and non-assessable Share for a price of $0.01 per Share, subject to adjustments as set forth in the Warrant Agreements. The foregoing descriptions of the Credit Agreement and Warrant Agreements do not purport to be complete and are qualified in their entirety by reference to the full text of the Credit Agreement and Warrant Agreements, which are attached hereto as Exhibits 99.1, 99.2, 99.3, 99.4, 99.5, and 99.6 and are incorporated herein by reference. Item 5(a) is hereby amended and restated to read as follows: The aggregate percentage of Shares reported owned by each person named herein is based upon a denominator that is the sum of: (i) 65,399,452 Shares outstanding as of May 5, 2025, as disclosed in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 8, 2025 and (ii) the number of Shares underlying the Warrants held by the Reporting Persons, as applicable. As of the date hereof, Ancora Merlin beneficially owned directly 63,961 Shares, constituting 0% of the Shares outstanding. As of the date hereof, Ancora Merlin Institutional beneficially owned directly 1,115,537 Shares, constituting 1.7% of the Shares outstanding. As of the date hereof, Ancora Catalyst beneficially owned directly 106,309 Shares, constituting 0% of the Shares outstanding. As of the date hereof, Ancora Catalyst Institutional beneficially owned directly 1,100,843 Shares, constituting 1.6% of the Shares outstanding. As of the date hereof, Ancora Bellator beneficially owned directly 706,242 Shares, constituting 1.1% of the Shares outstanding. As of the date hereof, Ancora Impact Q beneficially owned directly 400,904 Shares, constituting 0% of the Shares outstanding. As of the date hereof, Ancora Impact S beneficially owned directly 822,563 Shares, constituting approximately 1.2% of the Shares outstanding. As of the date hereof, Ancora SPC H beneficially owned directly 1,021,660 Shares, constituting approximately 1.5% of the Shares outstanding. As of the date hereof, Ancora Alternatives, as the investment advisor to each of the Ancora Funds and the Ancora Alternatives SMAs and the general partner of each of the Ancora LP Funds, may be deemed to beneficially own 5,834,040 Shares, constituting approximately 8.7% of the Shares outstanding and consisting of (i) 63,961 Shares beneficially owned directly by Ancora Merlin, (ii) 1,115,537 Shares beneficially owned directly by Ancora Merlin Institutional, (iii) 106,309 Shares beneficially owned directly by Ancora Catalyst, (iv) 1,100,843 Shares beneficially owned directly by Ancora Catalyst Institutional, (v) 706,242 Shares beneficially owned directly by Ancora Bellator, (vi) 400,904 Shares beneficially owned directly by Ancora Impact Q, (vii) 822,563 Shares beneficially owned directly by Ancora Impact S, (viii) 1,021,660 Shares beneficially owned directly by Ancora SPC H and (ix) 496,021 Shares held in the Ancora Alternatives SMAs. As of the date hereof, Ancora Family Wealth, as the investment advisor to the Ancora Family Wealth SMAs, may be deemed to beneficially own 6,675 Shares, constituting 0% of the Shares outstanding and consisting of 6,675 Shares held in the Ancora Family Wealth SMAs. As of the date hereof, Inverness Holdings, as the sole member of Ancora Family Wealth, may be deemed to beneficially own 6,675 Shares, constituting 0% of the Shares outstanding and consisting of 6,675 Shares held in the Ancora Family Wealth SMAs. As of the date hereof, Ancora Holdings, as the sole member of each of Ancora Alternatives and Inverness Holdings, may be deemed to beneficially own 5,840,715 Shares, constituting approximately 8.7% of the Shares outstanding and consisting of (i) 63,961 Shares beneficially owned directly by Ancora Merlin, (ii) 1,115,537 Shares beneficially owned directly by Ancora Merlin Institutional, (iii) 106,309 Shares beneficially owned directly by Ancora Catalyst, (iv) 1,100,843 Shares beneficially owned directly by Ancora Catalyst Institutional, (v) 706,242 Shares beneficially owned directly by Ancora Bellator, (vi) 400,904 Shares beneficially owned directly by Ancora Impact Q, (vii) 822,563 Shares beneficially owned directly by Ancora Impact S, (viii) 1,021,660 Shares beneficially owned directly by Ancora SPC H (ix) 496,021 Shares held in the Ancora Alternatives SMAs and (x) 6,675 Shares held in the Ancora Family Wealth SMAs. As of the date hereof, Mr. DiSanto beneficially owned directly 4,000 Shares. As the Chairman and Chief Executive Officer of Ancora Holdings, he may be deemed to beneficially own 5,840,715 Shares, constituting approximately 8.7% of the Shares outstanding and consisting of (i) 63,961 Shares beneficially owned directly by Ancora Merlin, (ii) 1,115,537 Shares beneficially owned directly by Ancora Merlin Institutional, (iii) 106,309 Shares beneficially owned directly by Ancora Catalyst, (iv) 1,100,843 Shares beneficially owned directly by Ancora Catalyst Institutional, (v) 706,242 Shares beneficially owned directly by Ancora Bellator, (vi) 400,904 Shares beneficially owned directly by Ancora Impact Q, (vii) 822,563 Shares beneficially owned directly by Ancora Impact S, (viii) 1,021,660 Shares beneficially owned directly by Ancora SPC H (ix) 496,021 Shares held in the Ancora Alternatives SMAs and (x) 6,675 Shares held in the Ancora Family Wealth SMAs. As of the date hereof, the Reporting Persons hold 1,504,140 Warrants, exercisable for an aggregate of 1,504,140 Shares. Each Warrant entitles the holder thereof to acquire, for a nominal exercise price of $0.01, one Share. The Warrants are only exercisable to the extent that the holder, together with its affiliates and any other person or entity acting as a group, would not beneficially own more than 19.8% of the outstanding Shares after giving effect to such exercise, as such percentage ownership is determined in accordance with the terms of the Warrants (the "Beneficial Ownership Limitation"). As of the date hereof, the Beneficial Ownership Limitation does not prohibit the exercise of the Warrants held by the Reporting Persons. Item 5(b) is hereby amended and restated to read as follows: (i) Ancora Merlin 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 63,961 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 63,961 (ii) Ancora Merlin Institutional 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 1,115,537 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 1,115,537 (iii) Ancora Catalyst 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 106,309 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 106,309 (iv) Ancora Catalyst Institutional 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 1,100,843 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 1,100,843 (v) Ancora Bellator 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 706,242 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 706,242 (vi) Ancora Impact Q 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 400,904 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 400,904 (vii) Ancora Impact S 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 822,563 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 822,563 (viii) Ancora SPC H 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 1,021,660 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 1,021,660 (ix) Ancora Alternatives 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 5,834,040 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 5,834,040 (x) Ancora Family Wealth 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 6,675 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 6,675 (xi) Inverness Holdings 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 6,675 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 6,675 (xii) Ancora Holdings 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 5,840,715 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 5,840,715 (xiii) Mr. DiSanto 1. Sole power to vote or direct vote: 4,000 2. Shared power to vote or direct vote: 5,840,715 3. Sole power to dispose or direct the disposition: 4,000 4. Shared power to dispose or direct the disposition: 5,840,715 Item 6 is hereby amended to add the following: On May 7, 2025, Ancora Holdings and the Issuer entered into the Credit Agreement, as defined and described in Item 4 above, which is attached hereto as Exhibit 99.1 and incorporated herein by reference. Certain of the Reporting Persons own certain Warrants, as defined and described in Item 4 and Item 5 above, which are attached hereto as Exhibits 99.2, 99.3, 99.4, 99.5, and 99.6 and are incorporated herein by reference. Item 7 is hereby amended to add the following exhibits: 99.1 - Secured Line of Credit Agreement dated as of May 7, 2025, by and between Green Plains Inc., Green Plains Central City LLC, and Ancora Alternatives LLC (incorporated by reference to Exhibit 10.11 to the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 8, 2025). 99.2 - Warrant Agreement to Purchase Common Stock of Green Plains Inc. dated as of May 7, 2025, by and between Green Plains Inc. and Ancora Catalyst Institutional, LP (incorporated by reference to Exhibit 10.12(A) to the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 8, 2025). 99.3 - Warrant Agreement to Purchase Common Stock of Green Plains Inc. dated as of May 7, 2025, by and between Green Plains Inc. and Ancora Catalyst, LP (incorporated by reference to Exhibit 10.12(B) to the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 8, 2025). 99.4 - Warrant Agreement to Purchase Common Stock of Green Plains Inc. dated as of May 7, 2025, by and between Green Plains Inc. and Ancora Merlin Institutional, LP (incorporated by reference to Exhibit 10.12(C) to the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 8, 2025). 99.5 - Warrant Agreement to Purchase Common Stock of Green Plains Inc. dated as of May 7, 2025, by and between Green Plains Inc. and Ancora Merlin, LP (incorporated by reference to Exhibit 10.12(D) to the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 8, 2025). 99.6 - Warrant Agreement to Purchase Common Stock of Green Plains Inc. dated as of May 7, 2025, by and between Green Plains Inc. and Ancora Bellator Fund, LP (incorporated by reference to Exhibit 10.12(E) to the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 8, 2025). Ancora Alternatives LLC /s/ Fredrick DiSanto Fredrick DiSanto, Chair and CEO of Ancora Holdings Group, LLC, Sole Member 05/09/2025 Ancora Merlin, LP /s/ Fredrick DiSanto Fredrick DiSanto, Chair and CEO of Ancora Holdings Group, LLC, Sole Member of Ancora Alternatives LLC, Investment Advisor and General Partner 05/09/2025 ANCORA MERLIN INSTITUTIONAL, LP /s/ Fredrick DiSanto Fredrick DiSanto, Chair and CEO of Ancora Holdings Group, LLC, Sole Member of Ancora Alternatives LLC, Investment Advisor and General Partner 05/09/2025 Ancora Catalyst, LP /s/ Fredrick DiSanto Fredrick DiSanto, Chair and CEO of Ancora Holdings Group, LLC, Sole Member of Ancora Alternatives LLC, Investment Advisor and General Partner 05/09/2025 Ancora Catalyst Institutional, LP /s/ Fredrick DiSanto Fredrick DiSanto, Chair and CEO of Ancora Holdings Group, LLC, Sole Member of Ancora Alternatives LLC, Investment Advisor and General Partner 05/09/2025 Ancora Bellator Fund, LP /s/ Fredrick DiSanto Fredrick DiSanto, Chair and CEO of Ancora Holdings Group, LLC, Sole Member of Ancora Alternatives LLC, Investment Advisor and General Partner 05/09/2025 Ancora Impact Fund LP - Series Q /s/ Fredrick DiSanto Fredrick DiSanto, Chair and CEO of Ancora Holdings Group, LLC, Sole Member of Ancora Alternatives LLC, Investment Advisor and General Partner 05/09/2025 Ancora Impact Fund LP - Series S /s/ Fredrick DiSanto Fredrick DiSanto, Chair and CEO of Ancora Holdings Group, LLC, Sole Member of Ancora Alternatives LLC, Investment Advisor and General Partner 05/09/2025 Ancora Impact Fund SPC Ltd. - Segregated Portfolio H /s/ Fredrick DiSanto Fredrick DiSanto, Chair and CEO of Ancora Holdings Group, LLC, Sole Member of Ancora Alternatives LLC, Investment Advisor 05/09/2025 ANCORA FAMILY WEALTH ADVISORS, LLC /s/ Fredrick DiSanto Fredrick DiSanto, Chair and CEO of Ancora Holdings Group, LLC, Sole Member of Inverness Holdings LLC, Sole Member 05/09/2025 Inverness Holdings LLC /s/ Fredrick DiSanto Fredrick DiSanto, Chair and CEO of Ancora Holdings Group, LLC, Sole Member 05/09/2025 Ancora Holdings Group, LLC /s/ Fredrick DiSanto Fredrick DiSanto, Chair and CEO 05/09/2025 DiSanto Frederick D. /s/ Fredrick DiSanto Fredrick DiSanto 05/09/2025