Gevo Inc says it has struck definitive agreements with institutional investors for $350M registered direct offering
Gevo Inc (NASDAQ:GEVO) revealed on Wednesday that it has struck definitive agreements with institutional and accredited investors for the sale of around 43.75 million shares through a registered direct offering to raise gross proceeds of $350 million to fund projects and as working capital.
The Englewood, Colorado-based company said it entered into the agreements with institutional and accredited investors for the sale of 43,750,000 shares at a purchase price of $8 per share in a registered direct offering priced at-the-market under Nasdaq rules.
The offering is expected to close on or about January 22, 2020, subject to the satisfaction of customary closing conditions.
READ: Gevo pays off $12.7M in convertible notes, reduces debt balance to zero
“The gross proceeds of the offering are expected to be $350 million, prior to deducting placement agent’s fees and other offering expenses payable by Gevo,” said the company in a statement.
Gevo said it intends to use the net proceeds from the offering to “fund capital projects, working capital and for general corporate purposes.”
HC Wainwright & Company is acting as the exclusive placement agent for the offering, while Citigroup is acting as capital markets advisor to Gevo.
Gevo is commercializing the next generation of gasoline, jet fuel, and diesel fuel with the potential to achieve zero carbon emissions, addressing the market need to reduce greenhouse gas emissions with sustainable alternatives.
Gevo recently announced that it has optioned the right to purchase nearly 239 acres of land near Lake Preston, South Dakota for a planned fuel production facility.
Contact the author Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/939012/gevo-inc-says-it-has-struck-definitive-agreements-with-institutional-investors-for-350m-registered-direct-offering-939012.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
