Gevo, Inc. : Gevo Announces Stock Repurchase Program
ENGLEWOOD, Colo. - January 2, 2012 - Gevo, Inc. (NASDAQ: GEVO) today announced
that its Board of Directors has approved a stock repurchase program that
authorizes Gevo to repurchase up to $15,000,000 of its common stock over a
one-year period. The Company expects to fund its stock repurchase program with
existing cash and cash equivalents on hand. Any shares repurchased will be
classified as treasury stock or retired.
"This new stock repurchase program reflects our confidence in Gevo's future,"
said Patrick Gruber Ph.D., Chief Executive Officer of Gevo. "We see this
program as an opportunity to enhance value for our stockholders through
disciplined repurchases of shares of our common stock at what we believe are
The stock repurchase program is effective immediately. Repurchases of the
Company's common stock may be made from time to time through a variety of
methods, including open market purchases, privately negotiated transactions,
and block transactions. Gevo has no obligation to repurchase shares under the
stock repurchase program. The timing, volume, and value of the shares that are
repurchased will be at the discretion of the Company's management and will
depend upon a number of considerations, including the trading price of the
Company's common stock, general market conditions, applicable legal
requirements, and other factors. The stock repurchase program will expire on
December 31, 2013, unless the program is completed sooner, suspended,
terminated, or otherwise extended.
Gevo is a leading renewable chemicals and next-generation biofuels company.
Gevo's patent-protected, capital-light business model converts existing
ethanol plants into biorefineries to make isobutanol. This versatile chemical
can be directly integrated into existing chemical and fuel products to deliver
environmental and economic benefits. Gevo started up its first commercial
isobutanol facility in Luverne, Minn., and has a marquee list of partners
including Coca-Cola, Sasol, and LANXESS, among others. Gevo is committed to a
sustainable biobased economy that meets society's needs for plentiful food and
clean air and water. For more information, visit www.gevo.com.
Certain statements in this press release may constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements include statements that are not
purely statements of historical fact, and can sometimes be identified by our
use of terms such as "intend," "expect," "plan," "estimate," "future,"
"strive" and similar words. These forward-looking statements are made on the
basis of the current beliefs, expectations and assumptions of the management
of Gevo and are subject to significant risks and uncertainty. Investors are
cautioned not to place undue reliance on any such forward-looking statements.
All such forward-looking statements speak only as of the date they are made,
and the company undertakes no obligation to update or revise these statements,
whether as a result of new information, future events or otherwise. Although
the company believes that the expectations reflected in these forward-looking
statements are reasonable, these statements involve many risks and
uncertainties that may cause actual results to differ materially from what may
be expressed or implied in these forward-looking statements. For a further
discussion of risks and uncertainties that could cause actual results to
differ from those expressed in these forward-looking statements, as well as
risks relating to the business of Gevo in general, see the risk disclosures in
the Annual Report on Form 10-K of Gevo for the year ended December 31, 2011,
as amended, and in subsequent reports on Forms 10-Q and 8-K and other filings
made with the Securities and Exchange Commission by Gevo.
# # #
Gibbs & Soell for Gevo
T: (212) 697-2600
PR & Marketing Coordinator
T: (303) 858-8358
This announcement is distributed by Thomson Reuters on behalf of Thomson
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applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Gevo, Inc. via Thomson Reuters ONE
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