Gevo closes $321.7M in direct offering

In Colorado, Gevo announced that it has closed its previously announced registered direct offering priced at-the-market under Nasdaq rules of an aggregate of 43,750,000 shares of common stock at a purchase price of $8.00 per share.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. Citigroup acted as capital markets advisor to Gevo. Stifel and Roth Capital Partners also acted as advisors to Gevo.

After deducting placement agent’s fees, advisory fees and other offering expenses payable by Gevo, Gevo received net proceeds of approximately $321.7 million. Gevo intends to use the net proceeds from the offering to fund capital projects, working capital and for general corporate purposes.