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 placements@hcwco.com. Electronic copies of the final prospectus supplement and accompanying
prospectus will also be available on the SEC’s website at http://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.
Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, including, without
limitation, statements regarding the completion, timing and size of the proposed public offering, Gevo’s anticipated proceeds from
the offering and its use of those proceeds and other statements that are not purely statements of historical fact. These
forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and
are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking
statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to
update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that
the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and
uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking
statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in
these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the
Annual Report on Form 10-K of Gevo for the year ended December 31, 2015, as amended, and in subsequent reports on Forms 10-Q and
8-K and other filings made with the SEC by Gevo.
Media Contact David Rodewald The David James Agency, LLC +1 805-494-9508 gevo@davidjamesagency.com Investor Contact Shawn M. Severson EnergyTech Investor, LLC +1 415-233-7094 shawn@energytechinvestor.com
![Primary Logo](http://resource.globenewswire.com/Resource/Download/6b6b11ab-db21-46af-99e4-0632fdbba073?size=1)
![](http://www.globenewswire.com/newsroom/ti?ndecode=MTg0IzYzMTA4MTE=)