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Gevo (NASDAQ: GEVO) The shares are trading lower on Wednesday after the company announced a registered direct offer of $ 350 million common stock. The offer is priced at $ 8 per share.
Gevo is a renewable chemicals and biofuels company engaged in the development and commercialization of alternatives to petroleum products based on isobutanol produced from renewable raw materials. Its operating segments are the Gevo segment and the Gevo Development – Agri-Energy segment.
Gevo shares were trading down 20.99% to $ 8.72 at the time of publication on Wednesday. The stock has a 52-week high at $ 11.68 and a 52-week low at 46 cents.
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