Benson Hill receives court approval of first-day motions to support ongoing operations during Chapter 11 process

Benson Hill, Inc. (Nasdaq: BHIL, ″Benson Hill″), a seed innovation company, announced that the U.S. Bankruptcy Court for the District of Delaware has approved the Company’s initial ″first-day″ motions following its voluntary filing for relief under Chapter 11 of the U.S. Bankruptcy Code on March 20, 2025.

These approvals are expected to ensure business continuity as Benson Hill works to strengthen its financial position and continue advancing its work to deliver better feed, food, and fuel through innovative soybean seed genetics and soy quality traits.

The Court’s orders allow the Company and its affiliated debtors to continue day-to-day operations with minimal disruption, including:

• Access to up to $11 million in debtor-in-possession (DIP) financing from existing lenders, including Expedition Ag Holdings, S2G Investments, Steve Kahn, and ProAgInvest, with an initial $3 million available immediately. These funds will support payroll, vendor payments, and other critical operating expenses.

• Authorization to pay employee wages and benefits without interruption.

• Ability to honor prepetition obligations to key business partners—including critical vendors, shippers, warehouse providers, and suppliers with administrative expense claims under section 503(b)(9)—to maintain operational continuity and preserve value in the business.

• Permission to maintain existing cash management systems, bank accounts, and routine business operations.

• Legal authorization for DIP lenders to credit bid for assets, along with other customary protections in the event of default.

″These approvals give us the opportunity to maintain momentum while we take the necessary steps to restructure our financial foundation,″ said Dan Cosgrove, Interim Chief Executive Officer of Benson Hill. ″We remain focused on delivering value to our customers and partners while positioning the business for long-term success and maximizing value for all of our stakeholders.″

A final hearing to consider approval of the full DIP financing and vendor-related motions is scheduled for April 16.

Additional information about the Chapter 11 process is available on the website maintained by the Company’s claims agent Stretto, Inc., at https://cases.stretto.com/bensonhill.