Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 29, 2023


LAKE AREA CORN PROCESSORS, LLC
(Exact name of registrant as specified in its charter)

South Dakota	000-50254	46-0460790
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

46269 SD Highway 34	PO Box 100
Wentworth	SD	57075
(Address of principal executive offices)		(Zip Code)

(605)	483-2676
(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


o			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None


Title of each class	Trading Symbol(s)	Name of each exchange on which registered

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 1.01 Entry into Material Definitive Agreement

On September 29, 2023, Lake Area Corn Processors, LLC (the “Company”) entered into a purchase agreement with KAAPA Ethanol Holdings, LLC for the purchase of membership units in Guardian Hankinson, LLC and Guardian Energy Management, LLC (the “Agreement”). Pursuant to the Agreement, the Company will receive additional units of Guardian Hankinson, LLC and Guardian Energy Management, LLC. The Company has agreed to pay approximately $44,000,000 to purchase the units.

In order to fund our purchase of the units in Guardian Hankinson, LLC and Guardian Energy Management, LLC, the Company entered into an amendment to our wholly owned subsidiary, Dakota Ethanol, LLC’s credit agreement dated May 15, 2013, with lenders, Farm Credit Services of America, PCA and Farm Credit Services of America, FLCA

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


		LAKE AREA CORN PROCESSORS, LLC

Date:	October 4, 2023	/s/ Robbi Buchholtz
		Robbi Buchholtz, Chief Financial Officer

Cover	Sep. 29, 2023
Document Information [Line Items]
Document Type	8-K
Document Period End Date	Sep. 29, 2023
Entity File Number	000-50254
Entity Tax Identification Number	46-0460790
Entity Incorporation, State or Country Code	SD
Entity Address, Address Line One	46269 SD Highway 34
Entity Address, Address Line Two	PO Box 100
Entity Address, City or Town	Wentworth
Entity Address, State or Province	SD
Entity Address, Postal Zip Code	57075
City Area Code	(605)
Local Phone Number	483-2676
Entity Registrant Name	LAKE AREA CORN PROCESSORS, LLC
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0001156174
Written Communications	false