Gevo (GEVO) Announces Proposed 43.75M Share Registered Direct Offering at $8/Sh

Gevo, Inc. (NASDAQ: GEVO), today announced that it has entered into definitive agreements with institutional and accredited investors for the sale of an aggregate of 43,750,000 shares of common stock at a purchase price of $8.00 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.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. Citigroup is acting as capital markets advisor to Gevo.

The gross proceeds of the offering are expected to be $350.0 million, prior to deducting placement agent’s fees and other offering expenses payable by Gevo. Gevo intends to use the net proceeds from the offering to fund capital projects, working capital and for general corporate purposes.

An automatic shelf registration statement on Form S-3 (File No. 333-252229) relating to the offering of the shares of common stock described above was filed with the Securities and Exchange Commission (the "SEC") on January 19, 2021 and automatically became effective under SEC rules. Such shares may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.

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