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Gevo Inc announces pricing of public offering of common stock and warrants

Thursday, 31 Jul 2014 09:00am EDT 

Gevo Inc:Has agreed to sell 30,000,000 common stock units.Each common stock unit consists of one share of common stock and a warrant to purchase 0.5 shares of common stock, at a public offering price of $0.60 per common stock unit.Each warrant included in a common stock unit will have an exercise price of $0.85 per share, will be exercisable from the date of original issuance and will expire on Aug. 5, 2019.The gross proceeds to Gevo from this offering are expected to be about $18 million, not including any future proceeds from the exercise of the warrants.Gevo intends to use the net proceeds , excluding any future proceeds from the exercise of the warrants, to fund capital to complete the side-by-side configuration of its Luverne, MN facility, to fund working capital and for other general corporate purposes.In connection with the offering, Cowen and Company, LLC is acting as sole manager. 

Company Quote

-0.0052 -3.85%
30 Jan 2015