Business
Gevo, Inc. Announces Closing of $350 Million Registered Direct Offering of Common Stock
ENGLEWOOD, Colo., Jan. 25, 2021 (GLOBE NEWSWIRE) -- Gevo, Inc. (“Gevo”) (Nasdaq: GEVO), today announced that it has closed its previously announced registered
About this update from Gevo, Inc.
[{"type":"text","content":"ENGLEWOOD, Colo., Jan. 25, 2021 (GLOBE NEWSWIRE) -- Gevo, Inc. (“Gevo”) (Nasdaq: GEVO), today announced that it has closed its previously announced registered direct offering priced at-the-market under Nasdaq rules of an aggregate of 43,750,000 shares of common stock at a purchase price of $8.00 per share. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. Citigroup acted as capital markets advisor to Gevo. Stifel and Roth Capital Partners also acted as advisors to Gevo. After deducting placement agent’s fees, advisory fees and other offering expenses payable by Gevo, Gevo received net proceeds of approximately $321.7 million. Gevo intends to use the net proceeds from the offering to fund capital projects, working capital and for general corporate purposes. The shares of common stock described above were offered by Gevo pursuant to an automatic shelf registration statement on Form S-3 (File No. 333-252229), which was filed with the Securities and Exchange Commission (the “SEC”) on January 19, 2021 and automatically became effective under SEC rules. The offering was made only by means of a prospectus, including a prospectus supplement, forming part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the shares being offered was filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained by visiting the SEC’s website at www.sec.gov or by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, New York 10022, by email at [email protected] or by telephone at 646-975-6996. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Gevo Gevo has a mission to transform renewable energy into low carbon transportation fuels. This next generation of renewable premium gasoline, jet fuel and diesel fuel with the potential to achieve zero carbon emissions, addressing the market need of reducing greenhouse gas emissions with sustainable alternatives. Gevo uses low-carbon ...