Home / Knowledge / News / Textiles / Gevo prices IPO at $1.35 per share
Gevo prices IPO at $1.35 per share
12
Dec '13
Gevo, Inc., a leading renewable chemicals and next-generation biofuels company, announced that it has priced its underwritten public offering of common stock units.

Gevo announced that it has agreed to sell 18,525,000 common stock units. Each common stock unit consists of one share of common stock and a warrant to purchase one share of common stock, at a public offering price of $1.35 per common stock unit. Gevo has granted the underwriter a 30-day option to purchase up to an additional 2,778,750 shares of common stock and/or warrants to purchase up to 2,778,750 shares of common stock to cover over-allotments, if any.

Each warrant included in a common stock unit will have an exercise price of $1.85 per share, will be exercisable from the date of original issuance and will expire on December 16, 2018. The shares of common stock and the warrants will be immediately separable and will be issued separately. The gross proceeds to Gevo from this offering are expected to be approximately $25 million, not including any future proceeds from the exercise of the warrants.

Certain of Gevo's directors and officers have expressed an interest in participating in the public offering of common stock units.

Gevo currently intends to use the net proceeds from the offering, excluding any future proceeds from the exercise of the warrants, to ramp up startup production and sales at its Luverne, Minn. plant.

Gevo also intends to use a portion of the net proceeds from the offering to repay $5.1 million in its outstanding long-term debt obligations under its loan agreement, and may also use a portion of the net proceeds from the offering to fund working capital and for other general corporate purposes, which may include paying down additional long-term debt obligations.

In connection with the offering, Piper Jaffray & Co. is acting as sole manager. Gevo also announced that it has decided not to pursue its previously announced public offering of senior note units.

The offering of common stock units was made pursuant to Gevo's shelf registration statement filed with the Securities and Exchange Commission (SEC) and declared effective, and is expected to close on or about December 16, 2013, subject to customary closing conditions.

Gevo


Must ReadView All

Apparel/Garments | On 26th Sep 2017

US raises annual AGOA quota for textiles

The US Committee for the Implementation of Textile Agreements has...

Textiles | On 26th Sep 2017

Thrace-LINQ expanding Dorchester County operations

Thrace-LINQ, a global supplier of fabrics for the textile industry,...

Courtesy: Levis

Fashion | On 26th Sep 2017

Google unveils smart denim jacket with Levi Strauss

Ending the months-long wait, Google has unveiled its smart denim...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
75.5%
No
12.2%
Skip
12.2%

Total Votes: 49

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.3%
No
24.5%
Skip
12.2%

Total Votes: 49

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.8%
No
6.1%
Skip
6.1%

Total Votes: 49

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
71.4%
No
10.2%
Skip
18.4%

Total Votes: 49


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search