Gevo pays off secured debt balance

In Colorado, Gevo said that as of December 31, 2020 it had paid off the entire outstanding balance of $12.7 million of Gevo’s 12.0% Convertible Senior Secured Notes exchanged and issued to Whitebox Advisors LLC on January 10, 2020.

On December 23, 2020 and December 29, 2020, the holders of the Notes converted the remaining $12.7 million in aggregate outstanding principal amount of Notes (including the applicable make-whole payment) into an aggregate of 5,672,654 shares of common stock pursuant to the terms of the indenture, which represented the entire outstanding principal amount of the Notes. The conversion of the Notes saved Gevo $12.7 million in cash and reduced the general corporate secured debt balance to zero.