Gevo to issue stock for $515,000 of 7.5% convertible notes due 2022

By Susanna Moon

Chicago, Jan. 5 – Gevo, Inc. agreed to exchange its $515,000 principal amount of 7.5% convertible senior notes due 2022 for 780,303 shares of its common stock.

The issuer entered into a private exchange agreement on Thursday with a holder of its 7.5% convertibles, according to an 8-K filing with the Securities and Exchange Commission.

After the exchange, the convertibles will be paid off and there will be no remaining obligations under the notes.

Gevo is a renewable technology, chemical products and next generation biofuels company based in Englewood, Colo.

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