Gevo Transfers Listing to Nasdaq Capital Market
05 Januar 2015 - 3:00PM
Gevo, Inc. (Nasdaq:GEVO), the world's only commercial producer of
renewable isobutanol, announced today that it received a positive
determination from the Listing Qualifications department of The
Nasdaq Stock Market ("Nasdaq") on December 30, 2014, granting
approval of the Company's request to transfer its listing to The
Nasdaq Capital Market® ("Capital Market") from The Nasdaq Global
Market®. The Company's securities will begin trading on the Nasdaq
Capital Market effective at the start of trading on Monday, January
5, 2015.
The transfer of the Company's listing to Capital Market is not
expected to have any impact on trading in the Company's securities,
and the Company's securities will continue to trade on Nasdaq under
the symbol 'GEVO'.
Nasdaq notified the Company that, upon the transfer to Capital
Market, the Company is granted its second grace period of 180
calendar days, or until June 29, 2015 to regain compliance with
Nasdaq. Gevo will monitor the bid price for its securities between
now and June 29, 2015, and will consider available options to meet
the Nasdaq minimum bid price requirement.
Background
As previously disclosed in a Current Report on Form 8-K dated
July 7, 2014, the Company was notified by Nasdaq, on June 30, 2014,
that it no longer satisfied the minimum bid price requirement for
continued listing set forth in Nasdaq Stock Market Rule 5450(a)(1),
as the bid price of the Company's shares had closed for 30
consecutive business days below US$1.00 per share. In accordance
with Nasdaq Stock Market Rule 5810(c)(3)(A), the Company was
granted a grace period of 180 calendar days, or until December 29,
2014, to regain compliance.
About Gevo
Gevo is a leading renewable technology, chemical products, and
next generation biofuels company. Gevo's underlying technology uses
a combination of synthetic biology, metabolic engineering,
chemistry and chemical engineering to focus primarily on the
production and sale of isobutanol, as well as related products from
renewable feedstocks. Gevo's strategy is to commercialize biobased
alternatives to petroleum-based products to allow for the
optimization of fermentation facilities' assets, with the ultimate
goal of maximizing cash flows from the operation of those assets.
Gevo produces isobutanol, ethanol and high-value animal feed at its
first fermentation plant in Luverne, MN. Gevo has also developed
technology to produce hydrocarbon products from renewable alcohols.
Gevo currently operates its first biorefinery in Silsbee, TX, in
collaboration with South Hampton Resources Inc., to produce
renewable jet fuel, octane, and ingredients for plastics like
polyester. Gevo has a marquee list of partners including The
Coca-Cola Company, Toray Industries Inc., Total SA and LANXESS,
Inc., an affiliate of LANXESS Corporation, among others. Gevo is
committed to a sustainable bio-based 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. These forward-looking
statements include statements that are not purely statements of
historical fact, and can sometimes be identified by our use of
terms such as "intend," "expect," "plan," "estimate," "future,"
"strive" and similar words. 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. Although the company believes that the
expectations reflected in these forward-looking statements are
reasonable, these statements involve many risks and uncertainties
that may cause actual results to differ materially from what may be
expressed or implied in these forward-looking statements. For a
further discussion of risks and uncertainties that could cause
actual results to differ from those expressed in these
forward-looking statements, as well as risks relating to the
business of Gevo in general, see the risk disclosures in the Annual
Report on Form 10-K of Gevo for the year ended December 31, 2013,
as amended, and in subsequent reports on Forms 10-Q and 8-K and
other filings made with the SEC by Gevo.
CONTACT: Media Contact:
Robin Peak
Gevo, Inc.
T: (720) 267-8632
rpeak@gevo.com
Investor Contact:
Mike Willis
Gevo, Inc.
T: (720) 267-8636
mwillis@gevo.com
Gevo (NASDAQ:GEVO)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Gevo (NASDAQ:GEVO)
Historical Stock Chart
Von Jul 2023 bis Jul 2024