Gevo sets price $9.5 mn common stock public offering

Gevo sets price of $9.5 mn common stock for public offering

5:55 AM, 14th June 2016
Gevo sets price of $9.5 mn common stock for public offering

ENGLEWOOD, US: Gevo Inc said that it has priced its best efforts public offering of common stock. It has agreed to sell 21,080,456 shares of common stock at a public offering price of $0.45 per share.

The gross proceeds to Gevo from this offering are expected to be approximately $9.5 million. Gevo currently intends to use the net proceeds from the offering to fund working capital and for other general corporate purposes.

The offering of shares of common stock was made pursuant to Gevo’s shelf registration statement filed with the Securities and Exchange Commission (SEC) and declared effective, and is expected to close on or about 15 June.

In connection with the offering, Cowen and Company LLC is acting as sole book-running manager and representative of the several placement agents participating in the offering and Rodman & Renshaw, a unit of H C Wainwright & Co LLC, is acting as lead manager.

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Read the latest news from Gevo:

Gevo hires Cowen to review strategic alternatives

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