Gevo Announces Proposed Public Offering of Common Stock and Warrants
September 07 2016 - 4:19PM
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, Series E
units, with each Series E unit consisting of one share of common
stock and Series I warrants to purchase a certain number of shares
of common stock. The Company is also offering Series F units, in
lieu of Series E units, to those purchasers whose purchase of
additional Series E units in the offering would result in the
purchaser beneficially owning more than 4.99% of Gevo’s outstanding
common stock following the completion of the offering. The Series F
units will consist of pre-funded warrants to purchase one share of
common stock and Series I 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 and for other general corporate
purposes.
In connection with the offering, Oppenheimer & Co.
Inc. is acting as sole underwriter.
A shelf registration statement relating to the shares of common
stock and warrants to be issued in the proposed offering has been
filed with the Securities and Exchange Commission (SEC)
and is effective. 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 Oppenheimer
& Co. Inc. Attention: Syndicate Prospectus Department,
85 Broad Street, 26th Floor, New York, NY 10004, or by
telephone at (212) 667-8563, or by email at
EquityProspectus@opco.com. Electronic copies of the preliminary
prospectus supplement and accompanying prospectus will also be
available on the SEC’s website at www.sec.gov.
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. Any
offer or sale will be made only by means of a prospectus which has
or will be filed with the SEC.
About GevoGevo 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,
Minnesota. Gevo has also developed technology to produce
hydrocarbon products from renewable
alcohols. Gevo currently operates a biorefinery
in Silsbee, Texas, 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 StatementsCertain 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, 2015, as amended, and in subsequent reports
on Forms 10-Q and 8-K and other filings made with
the SEC by Gevo.
Media Contact
David Rodewald
The David James Agency, LLC
+1 805-494-9508
gevo@davidjamesagency.com
Investor Contact
Shawn M. Severson
EnergyTech Investor, LLC
+1 415-233-7094
gevo@energytechinvestor.com
@ShawnEnergyTech
www.energytechinvestor.com
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