Reverse Splits

[sludgehound]

GEVO R/S 1-15 Tuesday Nasdaq

Gevo, Inc.
1 hour ago

GlobeNewswire

ENGLEWOOD, Colo., April 20, 2015 (GLOBE NEWSWIRE) -- Gevo, Inc. (GEVO) announced today that it will effect a 1-for-15 reverse stock split previously approved by the Company's stockholders at a special meeting held on April 13, 2015. The 1-for-15 reverse stock split will be effective as of the close of business on April 20, 2015 and the Company's common stock will begin trading on a split-adjusted basis on Tuesday, April 21, 2015.

The reverse stock split will reduce the number of shares of the Company's common stock currently outstanding from approximately 146.3 million shares to approximately 9.8 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 number of authorized shares of the Company's common stock will remain 250 million shares.

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 374396208.

Information for Stockholders

Upon the effectiveness of the reverse stock split, each fifteen 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 [phone] or [phone].

Additional information about the reverse stock split can be found in the Company's definitive proxy statement filed with the Securities and Exchange Commission on March 6, 2015, 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.