Reuters. Advanced biofuels and chemicals company Gevo, Inc. priced its IPO at the top of the expected range, selling 7.15 million shares for $15 each, raising $107.25 million. (Earlier post.)
Underwriters were led by UBS Investment Bank, Piper Jaffray and Citi. The shares are expected to begin trading on the Nasdaq on Wednesday under the symbol “GEVO”
Gevo uses synthetic biology and chemical technology to convert renewable raw materials into isobutanol and renewable hydrocarbons that can be directly integrated on a “drop in” basis into existing fuel and chemical products. Its initial S-1, filed last year, anticipated a $150 million maximum from the offering. (Earlier post.)