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