Business
Gevo, Inc. Announces $350 Million Registered Direct Offering of Common Stock
ENGLEWOOD, Colo., Jan. 20, 2021 (GLOBE NEWSWIRE) -- Gevo, Inc. (“Gevo”) (Nasdaq: GEVO), today announced that it has entered into definitive agreements with
About this update from Gevo, Inc.
[{"type":"text","content":"ENGLEWOOD, Colo., Jan. 20, 2021 (GLOBE NEWSWIRE) -- Gevo, Inc. (“Gevo”) (Nasdaq: GEVO), today announced that it has entered into definitive agreements with institutional and accredited investors for the sale of an aggregate of 43,750,000 shares of common stock at a purchase price of $8.00 per share in a registered direct offering priced at-the-market under Nasdaq rules. The offering is expected to close on or about January 22, 2020, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. Citigroup is acting as capital markets advisor to Gevo. The gross proceeds of the offering are expected to be $350.0 million, prior to deducting placement agent’s fees and other offering expenses payable by Gevo. Gevo intends to use the net proceeds from the offering to fund capital projects, working capital and for general corporate purposes. An automatic shelf registration statement on Form S-3 (File No. 333-252229) relating to the offering of the shares of common stock described above was filed with the Securities and Exchange Commission (the \"SEC\") on January 19, 2021 and automatically became effective under SEC rules. Such shares may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the shares being offered will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, 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 t...