Before we start getting into the GEVO news story, we would like to draw your attention to another company that is oozing out with huge trading volume and progressive news announcement. Cannabis Science, Inc. (OTCPINK: CBIS), a U.S. company specializing in the development of cannabis-based medicine announced today that they will be hosting the “black tie, red carpet” celebrity fundraising event in Los Angeles. The company intends to raise raise money for cannabinoids based targeted cancer treatments and unprecedented drug development expansions. Today’s announcement comes in the wake of CBIS African healthcare infrastructure delegation had just concluded with outstanding results. The delegation had met the prime objectives of the trip to South Africa and is now planning the next steps and trip for a follow up implementation program. According to CBIS, the black tie, red carpet should be billed as ‘The Event of the Year’ as this superlative gala hosted by CBIS will highlight the need for more research and development and will focus on fundraising to benefit with the battle of killing cancer. CBIS also intents to highlight some of the work done by its delegates at the South Africa Trip. Overall, traders and investors seems to be in agreement with all the latest developments taking place at CBIS.
Now getting to Gevo, Inc. (NASDAQ:GEVO), GEVO has announced that it intends to offer and sell common equity to members of the public if the market allows. Other market forces will also determine whether the public offering will substantiate or not. The proceeds from this best efforts public offer will fund working capital requirements and other general purpose costs. Particularly, Gevo intends to complete configuration the Luverne, MN facility.
Partners and participants in the public offering
As investors are always keen on any offering, modalities of this offering have already been put in place. In this public offering announcement, the book-running manager is Cowen Group Inc. (NASDAQ:COWN) and it will also be the representative of the major participating placement agents. The lead manager will be Rodman & Renshaw of H.C. Wainwright & Co., LLC.
No offer to sell yet
A statement regarding the sale of shares and warrants was filed with SEC (Securities and Exchange Commission). This statement is active and functional, but there is no offer to sell or a solicitation to buy as yet. Gevo will also not sell its shares and warrants to any market that does not allow public offerings and solicitations to buy. Preliminary prospectus supplement will be filed with SEC together with an accompanying prospectus which stipulates the terms and conditions of the offering.
Those interested in these prospectuses can contact the Prospectus Departmentat Cowen Group Inc. on the line 631-274-2806 or through facsimile at 631-254-7140. They can also visit the company’s registered offices on 1155 Long Island Avenue, Edgewood, NY 11717. Rodman & Renshaw can also help through their address, firstname.lastname@example.org. Electronic copies are available at http://www.sec.gov. These prospectuses contain updated information on the trading of GEVO shares and the guidelines that will direct the new offer to sell.