Gevo Announces Proposed Public Offering of Common Stock and Warrants
January 28 2015 - 4:01PM
Gevo, Inc. (Nasdaq:GEVO), a leading renewable chemicals and
next-generation biofuels company, announced today that it intends
to offer and sell, subject to market and other conditions, common
stock units. Each common stock unit will consist of one share of
common stock, Series A warrants to purchase a certain number of
shares of common stock and Series B warrants to purchase a certain
number of shares of common stock. The units are to be sold by Gevo
subject to market and other conditions in an underwritten public
offering.
Gevo currently intends to use the net proceeds from the
offering, excluding any future proceeds from the exercise of the
warrants, to fund working capital, potential capital optimizations
at its Luverne, MN facility and for other general corporate
purposes.
In connection with the offering, Cowen and Company, LLC is
acting as sole manager.
A shelf registration statement relating to the shares of common
stock and warrants to be issued in the proposed offering was filed
with the Securities and Exchange Commission (SEC) and is effective.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, these securities, nor will there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale is not permitted.
A preliminary prospectus supplement and accompanying prospectus
describing the terms of the proposed offering will be filed with
the SEC. Copies of the preliminary prospectus supplement and the
accompanying prospectus relating to the securities being offered
may also be obtained from Cowen and Company, LLC, c/o Broadridge
Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717,
Attention: Prospectus Department, via telephone at 631-274-2806 or
via facsimile at 631-254-7140. Electronic copies of the preliminary
prospectus supplement and accompanying prospectus will also be
available on the SEC's website at http://www.sec.gov.
About Gevo
Gevo is a leading renewable technology, chemical products, and
next generation biofuels company. Gevo has developed proprietary
technology that uses a combination of synthetic biology, metabolic
engineering, chemistry and chemical engineering to focus primarily
on the production of isobutanol, as well as related products from
renewable feedstocks. Gevo's strategy is to commercialize biobased
alternatives to petroleum-based products to allow for the
optimization of fermentation facilities' assets, with the ultimate
goal of maximizing cash flows from the operation of those assets.
Gevo produces isobutanol, ethanol and high-value animal feed at its
fermentation plant in Luverne, MN. Gevo has also developed
technology to produce hydrocarbon products from renewable alcohols.
Gevo currently operates a biorefinery in Silsbee, TX, in
collaboration with South Hampton Resources Inc., to produce
renewable jet fuel, octane, and ingredients for plastics like
polyester. Gevo has a marquee list of partners including The
Coca-Cola Company, Toray Industries Inc. and Total SA, among
others. Gevo is committed to a sustainable bio-based economy that
meets society's needs for plentiful food and clean air and
water.
Forward-Looking Statements
Certain statements in this press release may constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements relate to a variety of matters, including, without
limitation, Gevo's expectations regarding the sale of shares of its
common stock and warrants in the proposed public offering, its use
of the proceeds from the proposed offering and other statements
that are not purely statements of historical fact. These
forward-looking statements are made on the basis of the current
beliefs, expectations and assumptions of the management of Gevo and
are subject to significant risks and uncertainty. Investors are
cautioned not to place undue reliance on any such forward-looking
statements. All such forward-looking statements speak only as of
the date they are made, and Gevo undertakes no obligation to update
or revise these statements, whether as a result of new information,
future events or otherwise. Although Gevo believes that the
expectations reflected in these forward-looking statements are
reasonable, these statements involve many risks and uncertainties
that may cause actual results to differ materially from what may be
expressed or implied in these forward-looking statements. For a
further discussion of risks and uncertainties that could cause
actual results to differ from those expressed in these
forward-looking statements, as well as risks relating to the
business of Gevo in general, see the risk disclosures in the Annual
Report on Form 10-K of Gevo for the year ended December 31, 2013,
and in subsequent reports on Forms 10-Q and 8-K and other filings
made with the SEC by Gevo.
CONTACT: Media & Investor Contact:
Mike Willis
Gevo, Inc.
T: (720) 267-8636
mwillis@gevo.com
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