Gevo Announces Proposed Public Offering of Common Stock and Convertible Senior Notes
27 Juni 2012 - 3:29PM
Business Wire
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.
About Gevo
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
Forward-Looking Statements
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 otherwise.
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