Gevo, Inc. (NASDAQ:GEVO) Files An 8-K Entry into a Material Definitive Agreement
Item1.01.
| Entry into a Material Definitive Agreement. |
On June9, 2017, Gevo, Inc. (the Company) entered into a private
exchange agreement (the Exchange Agreement) with a holder of its
7.5% convertible senior notes due 2022 (the 2022 Notes), to
exchange $485,000 of principal amount of 2022 Notes for 736,671
shares of its common stock (the Exchange Shares), which
represents an effective exchange price of approximately $0.68 per
Exchange Share, a 5.4% premium to the closing price of Gevos
common stock on June9, 2017.
Upon completion, this exchange will reduce the outstanding
principal amount of the 2022 Notes to approximately $690,000. 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.
| 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.