Aemetis, Inc. (OTC.QB:AMTX), a renewable fuels and biochemicals
company with operating plants in California and India, today filed a
preliminary proxy for a consent solicitation seeking approval from its
stockholders for a 1-for-10 reverse stock split of Aemetis common stock
in anticipation of listing on a national exchange. Founded in 2006,
Aemetis has grown revenues to $178 million (2013).
“We believe that a national exchange listing will allow a broad range of
institutional investors to participate in the continued growth and
success of the company,” said Eric McAfee, Chairman and Chief Executive
Officer of Aemetis, Inc.
Assuming that the stockholders vote to approve the reverse stock split,
upon the effectiveness of the reverse stock split, every ten shares of
issued and outstanding Aemetis common stock will be automatically
combined into one issued and outstanding share of common stock without
any change in the par value per share. This will reduce the number of
outstanding shares of Aemetis common stock from approximately 201.7
million shares to approximately 20.2 million shares. The authorized
shares of Aemetis common stock will also be reduced from 400 million
shares to 40 million shares.
Aemetis common stock will continue trading on the OTC.QB under the
symbol “AMTX.”
No fractional shares will be issued in connection with the reverse stock
split. Shareholders who would otherwise hold a fractional share of
Aemetis common stock will receive an additional share rounded up to the
next whole number in lieu of such fractional share. For shareholders who
hold physical stock certificates, the Company’s transfer agent,
Corporate Stock Transfer, will transmit instructions for exchanging said
certificates for new certificates, representing the post-split number of
shares. Corporate Stock Transfer may be contacted at (303) 282-4800 and corporatestock.com.
This press release does not constitute a solicitation of any vote or
approval. The Company will deliver a proxy statement and other relevant
documents to its stockholders in connection with the solicitation of
written consents for the Reverse Stock Split. BEFORE MAKING ANY VOTING
DECISION, WE URGE STOCKHOLDERS TO READ THE PROXY STATEMENT (INCLUDING
ALL AMENDMENTS AND SUPPLEMENTS THERETO) CAREFULLY AND IN ITS ENTIRETY
WHEN IT BECOMES AVAILABLE, BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION
ABOUT THE REVERSE STOCK SPLIT AND CONSENT SOLICITATION. The solicitation
of written consents for the Reverse Stock Split will be made solely
through the proxy statement. Copies of the proxy statement (when it
becomes available) may be obtained free of charge from the Company at
20400 Stevens Creek Blvd., Suite 700, Cupertino, CA 95014, Attention:
Todd Waltz, or by calling (408) 213-0940. Stockholders will also be able
to obtain, free of charge, copies of the proxy statement (when it
becomes available) at the Security and Exchange Commission’s website at sec.gov.
About Aemetis
Headquartered in Cupertino, California, Aemetis is an advanced fuels and
renewable chemicals company that was founded in 2006. Aemetis owns and
operates a 60 million gallon per year (MGY) ethanol and 420,000-ton
animal feed plant in California that is the first biorefinery approved
by the EPA to produce D5 Advanced Biofuels using the milo/biogas/CHP
pathway. Aemetis also built, owns and operates a 50 million MGY capacity
renewable chemicals and advanced fuels production facility on the East
Coast of India producing high quality, distilled biodiesel and refined
glycerin for customers in Europe and Asia. Aemetis operates a research
and development laboratory at the Maryland Biotech Center, and holds
five granted patents on its Z-microbe and related technology for the
production of renewable fuels and biochemicals. For additional
information about Aemetis, please visit aemetis.com.
Safe Harbor Statement
This press release contains forward-looking statements, including
statements regarding our assumptions, projections, expectations,
targets, intentions or beliefs about future events or other statements
that are not historical facts. Forward-looking statements in this news
release, include without limitation, statements regarding the listing of
our common stock on a national securities exchange, statements regarding
our continued growth and success and statements regarding our belief
that institutional investors will be more interested in investing in our
common stock, if it is listed on a national securities exchange. Words
or phrases such as “anticipates,” “may,” “will,” “should,” “believes,”
“estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,”
“targets,” “will likely result,” “will continue” or similar expressions
are intended to identify forward-looking statements. These
forward-looking statements are based on current assumptions and
predictions and are subject to numerous risks and uncertainties. Actual
results or events could differ materially from those set forth or
implied by such forward-looking statements and related assumptions due
to certain factors, including, without limitation, a failure of our
stockholders to approve the reverse stock split, the risk that the
market price of our common stock may decline following the reverse stock
split such that we are unable to satisfy the listing standards for a
national securities exchange, the risk that we will not be able to
satisfy other requirements for the listing of our common stock on a
national securities, competition in the ethanol and other industries in
which we operate, commodity market risks including those that may result
from current weather conditions, financial market risks, counter-party
risks, risks associated with changes to federal policy or regulation,
risks associated with the conversion of the Keyes plant to the use of
sorghum for ethanol production; and other risks detailed in our reports
filed with the Securities and Exchange Commission, including our Annual
Report on Form 10-K for the year ended December 31, 2013, and in our
subsequent filings with the SEC. We are not obligated, and do not
intend, to update any of these forward-looking statements at any time
unless an update is required by applicable securities laws.
Copyright Business Wire 2014