Gevo (GEVO) Prices 33.33M Share Offering at $4.50/sh

Gevo, Inc. (“Gevo” or the “Company”) (Nasdaq: GEVO), today announced that it has entered into definitive agreements with several institutional investors for the purchase and sale of an aggregate of 33,333,336 shares of common stock, and accompanying warrants to purchase up to an aggregate of 33,333,336 additional shares of common stock, at a public offering price of $4.50 per share and accompanying warrant in a registered direct offering priced at-the-market under Nasdaq rules. The warrants have an exercise price of $4.37 per share, are immediately exercisable upon issuance and will expire five years following issuance. The offering is expected to close on or about June 8, 2022, 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 from the offering are expected to be $150 million, prior to deducting placement agent’s fees, advisory and other offering expenses payable by Gevo and assuming none of the warrants issued in the offering are exercised for cash. 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 securities described above was filed with the Securities and Exchange Commission (the "SEC") on January 19, 2021, and automatically became effective under SEC rules. Such securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the securities being offered will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, by visiting the SEC’s website at www.sec.gov or by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, New York 10022, by email at [email protected] or by telephone at (212) 856-5711.

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