AppHarvest owes Equilibrium $66 million plus interest and costs, for which the lender chose to demand immediate payment on May 30 after AppHarvest did not meet its demand to put $15 million into cash collateral account, according to documents filed in the lawsuit.
The lawsuit seeks to have the massive greenhouse in Richmond, where AppHarvest grows tomatoes, sold in a court auction to satisfy Equilibrium’s debt.
The company is trying to reach an agreement with the lender.
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AppHarvest faces foreclosure on Richmond, Ky. farm
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