Gevo, Inc. (NASDAQ:GEVO) Files An 8-K Entry into a Material Definitive Agreement
On January 19, 2021, Gevo, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain institutional and accredited investors providing for the issuance and sale by the Company of an aggregate of 43,750,000 shares of the Company’s common stock (the “Shares”) at a price of $8.00 per share in a registered direct offering (the “Offering”).
The net proceeds to the Company from the Offering are expected to be approximately $321.7 million, after deducting placement agent’s fees, advisory fees and other estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the Offering to fund capital projects, working capital and for general corporate purposes.
The Offering is being made to a prospectus supplement dated January 19, 2021, and a base prospectus dated January 19, 2021, which is part of a registration statement on Form S-3 (File No. 333-252229) that was filed with the Securities and Exchange Commission (the “Commission”) on January 19, 2021 and automatically became effective upon its filing with the Commission.
The Purchase Agreement contains customary representations and warranties of the Company, termination rights of the parties, and certain indemnification obligations of the Company and ongoing covenants of the Company.
The foregoing description of the Purchase Agreement does not purport to be complete and is subject to, and is qualified in its entirety by, the full text of the Purchase Agreement, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K, and is incorporated herein by reference.
The legal opinion and consent of Perkins Coie LLP relating to the issuance and sale of the Shares in the Offering is attached as Exhibit 5.1 to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
Gevo, Inc. Exhibit
EX-5.1 2 ex_221750.htm EXHIBIT 5.1 ex_221716.htm Exhibit 5.1 January 21,…
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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.