Gevo, Inc. (NASDAQ:GEVO) Files An 8-K Entry into a Material Definitive Agreement
Item1.01.
| Entry into a Material Definitive Agreement. |
On December20, 2016, Gevo, Inc. (the Company) entered into
private exchange agreements (the Exchange Agreement) with certain
holders of its 7.5% convertible senior notes due 2022 (the 2022
Notes), to exchange an aggregate of $1.425million of principal
amount of 2022 Notes for an aggregate of 5,036,641 shares of its
common stock (the Exchange Shares), which represents an effective
exchange price of approximately $0.29 per Exchange Share, a 41%
premium to the closing price of Gevos common stock on December
20, 2016.
Upon completion, these exchanges will reduce the outstanding
principal amount of the 2022 Notes to approximately
$9.575million. The Exchange Shares are being issued in reliance
on the exemption from registration provided by Section3(a)(9) of
the Securities Act of 1933, as amended, as securities exchanged
by the Company with its existing security holders exclusively
where no commission or other remuneration is paid or given
directly or indirectly for soliciting the exchange. The Company
may enter into additional equity exchanges with holders of 2022
Notes at similar or differing exchange rates in the future.
The foregoing description of the Exchange Agreement does not
purport to be complete and is subject to, and is qualified in its
entirety by reference to, the full text of the form of Exchange
Agreement which was filed as Exhibit10.3 to the Companys Current
Report on Form8-K filed with the Securities and Exchange
Commission on September9, 2016, and is incorporated herein by
reference.
| Item3.02. | Unregistered Sales of Equity Securities. |
The information provided in Item1.01 of this Current Report on
Form 8-K is incorporated by reference into this Item3.02.
About Gevo, Inc. (NASDAQ:GEVO)
Gevo, Inc. (Gevo) is a renewable chemicals and next generation biofuels company. The Company has developed a technology that uses a combination of synthetic biology, metabolic engineering, chemistry and chemical engineering to focus primarily on the production of isobutanol, as well as related products from renewable feedstock. It has two operating segments: the Gevo, Inc. segment and the Gevo Development/Agri-Energy segment. Its Gevo, Inc. segment is responsible for research and development activities related to the future production of isobutanol, including the development of its biocatalysts, the production and sale of biojet fuel, its Retrofit process and the next generation of chemicals and biofuels that will be based on its isobutanol technology. Its Gevo Development/Agri-Energy segment is responsible for the operation of its Agri-Energy Facility and the production of ethanol, isobutanol and related products. Gevo, Inc. (NASDAQ:GEVO) Recent Trading Information
Gevo, Inc. (NASDAQ:GEVO) closed its last trading session up +0.005 at 0.210 with 5,652,914 shares trading hands.
