Paul Hastings Represents Gevo, Inc. in Two Public Offerings worth $100 Million
July 12, 2012
San Diego, CA (July 12, 2012) - Paul Hastings LLP, a leading global law firm, announced today that the firm represented Gevo, Inc., a leading renewable chemicals and next-generation biofuels company, in two public offerings with gross proceeds of over $100 million.
Gevo sold 12,500,000 shares of its common stock at a public offering price of $4.95 per share, or an aggregate of $61,875,000. Gevo also completed a public offering of $40,000,000 in aggregate principal amount of 7.5% convertible senior notes due 2022. The gross proceeds do not include deductions for underwriting discounts and commissions and other estimated offering expenses.
Gevo intends to use the net proceeds from the offerings to repay a portion of its outstanding long-term debt obligations, to fund the cash consideration payable to complete the retrofit of its Luverne, Minn. plant and to partially fund the Redfield Energy retrofit. To the extent that the net proceeds are not used for these purposes, Gevo intends to use them to fund working capital and for other general corporate purposes.
Paul Hastings LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.