Gevo, Inc. : Gevo Announces Proposed Public Offering of Common Stock and Convertible Senior Notes
06/27/2012| 09:30am US/Eastern
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, shares of its
common stock and convertible senior notes due 2022. All of the shares in
the common stock offering and convertible senior notes are to be sold by
Neither the completion of the common stock offering nor the convertible
senior notes offering will be contingent on the completion of the other.
Gevo expects to use the net proceeds from the offerings to repay a
portion of its outstanding long- term debt obligations, to fund the cash
consideration payable to complete the retrofit of its Luverne, Minn.
plant, and to partially fund the Redfield Energy retrofit. To the extent
that the net proceeds are not used for these purposes, the Company
intends to use them to fund working capital and for other general
In connection with the offerings, UBS Securities LLC and Piper Jaffray &
Co. are acting as joint book- running managers. Robert W. Baird is
serving as co-manager for the common stock offering.
A shelf registration statement relating to the shares of common stock
and convertible notes to be issued in the proposed offerings was filed
with the Securities and Exchange Commission (SEC) and is effective.
Information about the offerings is available in the preliminary
prospectus supplements to be filed with the SEC. This press release does
not constitute an offer to sell, or the solicitation of an offer to buy,
these securities, nor will there by any sale of these securities in any
state or other jurisdiction in which such offer, solicitation or sale is
Copies of the preliminary prospectus supplements and accompanying
prospectuses may be obtained, when available, from UBS Securities LLC at
299 Park Avenue, New York, NY 10171, Attention: Prospectus Department,
or by calling (888) 827-7275, or from Piper Jaffray & Co. at 800
Nicollet Mall, J12S03, Minneapolis, MN 55402, Attention: Prospectus
Department, by calling (800) 747-3924 or by emailing firstname.lastname@example.org.
Gevo is converting existing ethanol plants into biorefineries to make
renewable building block products for the chemical and fuel industries.
The Company plans to convert renewable raw materials into isobutanol and
renewable hydrocarbons that can be directly integrated on a "drop in"
basis into existing chemical and fuel products to deliver environmental
and economic benefits. Gevo is committed to a sustainable biobased
economy that meets society's needs for plentiful food and clean air and
water. For more information, visit www.gevo.com
Certain statements in this press release may constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements relate to a variety of matters,
including, without limitation, the Company's expectations regarding the
sale of shares of its common stock and convertible notes in the proposed
public offerings, use of the proceeds from the proposed offerings 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 the Company undertakes no obligation to update or revise these
statements, whether as a result of new information, future events or
Greta Thomsen, 303-715-8928
Marcom and PR
IR for Gevo
Sarah McCabe, 267-909-9237
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