Gevo (NASDAQ: GEVO) shares traded lower on Wednesday after the company announced a registered direct offering of $ 350 million ordinary shares. The price is $ 8 per share.
Gevo is a renewable chemical and biofuel company that is developing and commercializing alternatives to petroleum products based on isobutanol produced from renewable fuels. Its operating segments are the Gevo segment and the Gevo development – Agri-Energy segment.
Gevo shares were 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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