Energy

Biofuels IPO: Gevo Prices (GEVO)

Gevo, Inc. (NASDAQ: GEVO), a developer and manufacturer of renewable chemicals and biofuels, is coming public today.  The initial public offering was for 7.15 million shares at $15.00 per share, making this one price at the top of its price range.  Last week we had the share sale pegged at 7,150,000 shares of common stock with a price range of $13 to $15 per share.

The good news for this IPO is that all shares are being sold by the company itself.  The net proceeds from this offering are expected to be $95.7 million.  UBS, Piper Jaffray, and Citi were listed as the joint book-running managers; and Simmons & Company was the co-manager for the offering.

Gevo is developing capital efficient biorefinery systems to provide renewable and cost-effective building block products to the fuel and chemical industries.  It converts renewable raw materials into isobutanol and renewable hydrocarbons that can be directly integrated into existing fuel and chemical products to deliver environmental and economic benefits.

The company plans to use the net proceeds of the IPO to acquire access to ethanol facilities through direct acquisition and joint ventures, and retrofit those facilities to produce isobutanol.  For all practical purposes, the company is still in the pre-revenue stage as far as full-line operations are concerned.

JON C. OGG

Want to Retire Early? Start Here (Sponsor)

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

 

Have questions about retirement or personal finance? Email us at [email protected]!

By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.

By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.