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LAKE AREA CORN PROCESSORS LLC

Date Filed : Jun 27, 2022

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lacp-20220624
0001156174false00011561742022-06-152022-06-15

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): June 24, 2022

LAKE AREA CORN PROCESSORS, LLC
(Exact name of registrant as specified in its charter)
 
South Dakota000-5025446-0460790
(State or other jurisdiction of
incorporation or organization)		(Commission File Number)(I.R.S. Employer Identification No.)
46269 SD Highway 34PO Box 100
WentworthSD57075
(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):

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
oPre-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 classTrading 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 June 24, 2022, Dakota Ethanol, LLC, the wholly owned subsidiary of the registrant (collectively, the "Company") entered into the Precedent Agreement West Leg 2023 Expansion between Northern Natural Gas Company and the Company (the "Agreement"). Pursuant to the Agreement, the Company will receive additional firm commitment natural gas transportation services. In order to secure these firm commitment natural gas transportation services, the Company agrees to pay Northern Natural Gas Company a contribution to the cost of constructing certain additional natural gas pipeline and storage facilities. The Company's contribution is estimated to be $8,890,000. For a period of five years, the Company is entitled to a firm natural gas commitment of 7,000 decatherms per day during the winter months, between November 1 and March 31 each year, and firm commitment of 4,340 decatherms per day during the summer months.



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:June 27, 2022/s/ Robbi Buchholtz
Robbi Buchholtz, Chief Financial Officer


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