Red Trail Energy, LLC announced a private placement of promissory note for a $10 million on April 11, 2024. The transaction will include participation from returning lender, Cornerstone Bank. The promissory note has a maturity date of April 9, 2025.

The interest rate on the note is subject to change from time to time based on changes in an independent index which is the prime rate. Interest on unpaid balance of this note is 0.25%, currently the index is 8.5% and under no circumstances will the interest rate on this note be less than 7.5% per annum or more than the maximum rate allowed by the applicable law.