ENGLEWOOD, Colo., June 01, 2018 (GLOBE NEWSWIRE) -- Gevo, Inc. (Nasdaq:GEVO) announced today that it will effect a
1-for-20 reverse stock split previously approved by the Company's stockholders at an annual meeting held on May 30, 2018. The
1-for-20 reverse stock split will be effective as of the close of business on June 1, 2018 and the Company's common stock will
begin trading on a split-adjusted basis on Monday, June 4, 2018.
The reverse stock split will reduce the number of shares of the Company's common stock currently outstanding from
approximately 25.8 million shares to approximately 1.3 million shares. Proportional adjustments will be made to the conversion and
exercise prices of the Company's outstanding warrants, convertible notes and stock options, and to the number of shares issued and
issuable under the Company's equity compensation plans.
The reverse stock split is intended to increase the market price per share of the Company's common stock to allow
the Company to maintain the listing of its common stock on The NASDAQ Capital Market. The Company's common stock will
continue to trade on The NASDAQ Capital Market under the symbol “GEVO.” The new CUSIP number for the common stock following
the reverse stock split will be 374396406.
Information for Stockholders
Upon the effectiveness of the reverse stock split, each twenty shares of the Company’s issued and outstanding
common stock will be automatically combined and converted into one issued and outstanding share of common stock, par value $0.01
per share. The Company will not issue any fractional shares in connection with the reverse stock split. Instead, fractional
share interests will be rounded up to the next largest whole number. The reverse stock split will not modify the rights or
preferences of the common stock.
The Company's transfer agent, American Stock Transfer & Trust Company, LLC, will act as its exchange agent for the
reverse stock split. American Stock Transfer & Trust Company, LLC will provide stockholders of record holding certificates
representing pre-split shares of the Company's common stock as of the effective date a letter of transmittal providing instructions
for the exchange of shares. Registered stockholders holding pre-split shares of the Company's common stock electronically in
book-entry form are not required to take any action to receive post-split shares. Stockholders owning shares via a broker or other
nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to brokers' particular
processes, and will not be required to take any action in connect with the reverse stock split. American Stock Transfer &
Trust Company, LLC can be reached at (877) 248-6417 or 718-921-8200 x 4801.
Additional information about the reverse stock split can be found in the Company’s definitive proxy statement filed
with the U.S. Securities and Exchange Commission on April 12, 2018, a copy of which is available at www.sec.gov or at www.gevo.com
under the SEC Filings tab located on the Investors page.
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, Minnesota. Gevo has also developed technology to produce hydrocarbon
products from renewable alcohols. Gevo currently operates a biorefinery in Silsbee, Texas, in collaboration with South Hampton
Resources Inc., to produce renewable jet fuel, octane, and ingredients for plastics like polyester. 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, which include statements relating to the
effectiveness of the reverse stock split, 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, 2017, and in subsequent reports on Forms 10-Q
and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.
Investor and Media Contact:
Shawn M. Severson
Integra Investor Relations
+1 415-226-7747
gevo@integra-ir.com