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GEVO ANNOUNCES PROPOSED PUBLIC OFFERING OF COMMON STOCK AND CONVERTIBLE SENIOR NOTES
Jun. 29, 2012
Source: Gevo, Inc. news release
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 Gevo.
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 corporate purposes.
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 not permitted.
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 prospectus@pjc.com.
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