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April 21, 2015 10:39 PM ET

Food Products

Company Overview of AgFeed USA, LLC

Company Overview

On November 10, 2014, AgFeed USA, LLC went out of business as per its Chapter 11 liquidation filing under bankruptcy. AgFeed USA, LLC produces and markets hog and swine in the United States. The company was formerly known as M2 P2, LLC and changed its name to AgFeed USA, LLC in June 2012. The company was founded in 2002 and is based in Ames, Iowa with sow operations in Colorado, Oklahoma, and North Carolina, as well as finishing operations in Iowa. As of September 13, 2010, the company operates as a subsidiary of AgFeed Industries, Inc.

510 South 17th Street

Suite 104

Ames, IA 50010

United States

Founded in 2002

Phone:

515-598-4640

Fax:

515-956-3226

Key Executives for AgFeed USA, LLC

AgFeed USA, LLC does not have any Key Executives recorded.

AgFeed USA, LLC Key Developments

AgFeed USA, LLC Enters into a Forbearance Agreement with Respect to Credit Agreement

On April 18, 2013, AgFeed USA, LLC and certain subsidiaries of AgFeed USA, LLC, Farm Credit Services of America, FLCA and Farm Credit Services of America, PCA entered into a Forbearance Agreement, dated April 18, 2013, among the Borrowers and Farm Credit, with respect to AgFeed USA, LLC's Credit Agreement, dated June 6, 2006, among the Borrowers and Farm Credit, as previously amended from time to time. In the Forbearance Agreement, Farm Credit agreed that it will extend the period during which it will take no action to enforce its default remedies under the Credit Agreement and related security and other agreements until the earlier of violation of the Forbearance Agreement and July 1, 2013. Pursuant to the Forbearance Agreement, AgFeed USA has committed to complete by July 1, 2013, a transaction that will result in the satisfaction in full of Farm Credit's claims. The Forbearance Agreement further provides that advances of cash that the Borrowers make to the company may not exceed $967,788 during the Forbearance Period or $365,000 during any calendar month during the Forbearance Period. Also on April 18, 2013, the company entered into a Guaranty of the obligations of the Borrowers under the Credit Agreement. The company's obligations under the Guaranty shall not exceed the sum of $1,406,250, which represents cash amounts previously advanced from the Borrowers to the company, plus the aggregate amount of advances to the company during the Forbearance Period (such advances not to exceed $967,788).

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