AVENTINE RENEWABLE ENERGY HOLDINGS, INC. 
By
DALLAS, October 12, 2012 (GLOBE NEWSWIRE) - Aventine
Renewable Energy Holdings, Inc. (AVRWD) ("Aventine")
announced that it will issue warrants to its stockholders of
record as of October 12, 2012 (each, a "Record Holder"),
other than in respect of the 2,186,298 shares of Aventine's
common stock issued on September 24, 2012 to Aventine's term
loan lenders as part of the restructuring transactions that
were consummated on that date (the "New Equity"). Aventine
will issue to each Record Holder its pro rata share of
787,855 warrants based on the number of issued and
outstanding shares of common stock on October 12, 2012 held
by such Record Holder, other than the New Equity. Excluding
the New Equity, there are currently
167,100 shares of Aventine's common stock issued and
outstanding. No fractional warrants will be issued. Each
warrant will entitle the holder thereof the right to purchase
one share of Aventine common stock at an exercise price of
$61.75 within a period of five years from the date of
issuance. If a warrant holder is a "Majority Stockholder" (as
defined in the Warrant Agreement, dated as of September 24,
2012, between Aventine and American Stock Transfer & Trust
Company, LLC, as warrant agent) the warrants (when
"in-the-money") will be immediately exercisable in reliance
upon Section 4(a)(2) and/or Rule 506 of Regulation D under
the
Securities Act of 1933, as amended (the "Securities Act").
Otherwise, the warrants will not be exercisable until the
later of the one year anniversary date of issuance and the
date a registration statement under the Securities Act
covering the issuance of the underlying shares of common
stock is declared effective (and provided that the warrants
are then "in-the-money").
Aventine intends to use any proceeds from the exercise of the
warrants to develop its production facilities and for general
corporate purposes.
The warrants will not be registered under the Securities Act
and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements. This press release does not constitute an offer
to sell or a solicitation of an offer to buy any securities
nor shall there be any sale of these securities in any state
or jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction.
About Aventine Renewable Energy
Aventine is a leading producer of ethanol. Through our production facilities, we market and distribute ethanol to many of the leading energy companies in the U.S. In addition to producing ethanol, our facilities also produce several by-products, such as distillers grain, corn gluten meal and feed, corn germ and grain distillers dried yeast, which generate revenue and allow us to help offset a significant portion of our corn costs.
Forward Looking Statements
Certain information included in this press release may be deemed to be "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. In some cases, you can identify these statements by forward-looking words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," and the negatives of these terms and
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other comparable terminology. These forward-looking
statements, which are subject to known and unknown risks,
uncertainties and assumptions about us, include the issuance
of warrants to purchase common stock, and may include
projections of our future financial performance based on our
growth strategies and anticipated trends in our business.
These statements are only predictions based on our current
expectations and projections about future events. There are
important factors that could cause our actual results, level
of activity, performance or achievements to differ materially
from the results, level of activity, performance or
achievements expressed or implied by the forward-looking
statements.
Some of the factors that may cause Aventine's actual results,
developments and business decisions to differ materially from
those contemplated by such forward looking statements include
our ability to obtain and maintain normal terms with vendors
and service providers, our ability to estimate allowed
general unsecured claims, unliquidated and contingent claims
and future distributions of securities and allocations of
securities among various categories of claim holders, our
ability to maintain contracts that are critical to our
operations, our ability to attract and retain customers, our
ability to fund and execute our business plan and any ethanol
plant expansion or completion projects, our ability to
receive or renew permits to construct or commence operations
of our proposed capacity additions in a timely manner, or at
all, laws, tariffs, trade or other controls or enforcement
practices applicable to our operations, changes in weather
and general economic conditions, overcapacity within the
ethanol, biodiesel and petroleum refining industries,
availability and costs of products and raw materials,
particularly corn, coal and natural gas and the subsequent
impact on margins, our ability to raise additional capital
and secure additional financing, our ability to service our
debt or comply with our debt covenants, our ability to
attract, motivate and retain key employees, liability
resulting from actual or potential future litigation or the
outcome of any litigation with respect to our auction rate
securities or otherwise, and plant shutdowns or disruptions.
We disclaim any obligation or
undertaking to disseminate any updates or revisions to any
forward looking statements contained in this release or to
reflect any change in our expectations after the date of this
release or any change in events, conditions or circumstances
on which any statement is based except as
required by law. Contact:
Aventine Renewable Energy Holdings, Inc. Calvin Stewart
Chief Financial Officer
Ph: 214-451-6766
Fax: 214-451-6799
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