Gevo announces pricing of $9.5 million public offering of common stock

ENGLEWOOD, Colo., June 10, 2016 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ:GEVO), a leading renewable chemicals and next-generation biofuels company, announced today that it has priced its best efforts public offering of common stock. Gevo announced that it has agreed to sell 21,080,456 shares of common stock at a public offering price of $0.45 per share.

The gross proceeds to Gevo from this offering are expected to be approximately $9.5 million. Gevo currently intends to use the net proceeds from the offering to fund working capital and for other general corporate purposes.

In connection with the offering, Cowen and Company, LLC is acting as sole book-running manager and representative of the several placement agents participating in the offering, and Rodman & Renshaw, a unit of H.C. Wainwright & Co., LLC, is acting as lead manager.

The offering of shares of common stock was made pursuant to Gevo’s shelf registration statement filed with the Securities and Exchange Commission (SEC) and declared effective, and is expected to close on or about June 15, 2016, subject to customary closing conditions. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering has been filed with the SEC and a final prospectus supplement will be filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus relating to the securities being offered may also be obtained, when available, from Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attention:  Prospectus Department, via telephone at (631) 274-2806 or via facsimile at (631) 254-7140 or from Rodman & Renshaw via email at [email protected]. Electronic copies of the final prospectus supplement and accompanying prospectus will also be available on the SEC’s website athttp://www.sec.gov.

About Gevo

Gevo is a leading renewable technology, chemical products, and next generation biofuels company. Gevo has developed proprietary 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 feedstocks. Gevo’s strategy is to commercialize biobased alternatives to petroleum-based products to allow for the optimization of fermentation facilities’ assets, with the ultimate goal of maximizing cash flows from the operation of those assets. Gevo produces isobutanol, ethanol and high-value animal feed at its fermentation plant in Luverne, MN. Gevo has also developed technology to produce hydrocarbon products from renewable alcohols. Gevo currently operates a biorefinery in Silsbee, TX, in collaboration with South Hampton Resources Inc., to produce renewable jet fuel, octane, and ingredients for plastics like polyester. Gevo has a marquee list of partners including The Coca-Cola Company, Toray Industries Inc. and Total SA, among others.Gevo is committed to a sustainable bio-based economy that meets society’s needs for plentiful food and clean air and water.