This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

IPO Watch: 2011


IPO Filing Date: Aug. 12, 2010

Expected IPO Date: Feb. 7, 2011

Amount of Proceeds Sought: $100.1 million

Expected Offering Price: $13 to $15

Expected Number of Shares to Be Sold: 7.2 million

Use of Proceeds: All or a portion of the proceeds would be used to obtain access to ethanol facilities through acquisitions and joint ventures, and to retrofit facilities to produce isobutanol alcohol. The company may also use a portion of the proceeds to fund working capital and for other general corporate purposes, including paying off certain long-term debt obligations and the costs associated with being a public company.

Expected Ticker Symbol: GEVO (GEVO) (NASDAQ)

Lead Underwriters: UBS Investment Bank, Piper Jaffray, Citi

Co-Managers: Simmons & Company International

About the Company: Gevo is a renewable chemicals and biofuels company aiming to commercialize alternatives to petroleum-based products through a combination of synthetic biology and chemical technology.

Gevo aims to produce and sell isobutanol alcohol, which can be used as a specialty chemical or fuel stock. Isobutanol alcohol can also be converted into butenes, which can be used in the production of plastics, fibers, rubber, other polymers and hydrocarbon fuels.

The company said it's currently in talks with several ethanol plant owners to buy their plants or enter joint ventures to retrofit the plants for isobutanol production. The company aims to begin initial commercial production of its isobutanol products in the first half of 2012.

Gevo generated revenue of $660,000 in 2009, an improvement from $208,000 in 2008 and $275,000 in 2007.

However, its net loss worsened in 2009 to $19.9 million, from $14.5 million in 2008 and $7.2 million in 2007.

Competitors: In the gasoline blend stock market, Gevo competes with Codexis, Novozymes, Danisco, Genencor, Royal DSM, BP (BP) and Range Fuels.

In the production of cellulosic biofuels, key competitors include Shell (RDS.A) Oil, BP, DuPont (DD)-Danisco, Cellulosic Ethanol, Abengoa Bioenergy, Archer Daniels Midland (ADM), KL Energy (KLEG), AE Biofuels (AEBF) and others.

Gevo said its business could suffer if any of these competitors succeed in producing competing products with greater efficiency and is more successful at marketing their products and reaching supply agreements with major customers.

IPO Scorecard:

Actual IPO Date: Feb. 9, 2011

Actual Proceeds Raised: $107 million. Net proceeds to be $95.7 million after deducting underwriting and other estimated expenses related to the offering.

Actual Offering price: $15

Actual Number of Shares Sold: 7.2 million

First Day Closing Price: 16.44

IPO First Day Return: 9.6%
4 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ZA $0.46 0.00%
AAPL $93.65 -0.66%
FB $101.93 0.92%
GOOG $681.92 -0.32%
TSLA $150.01 4.40%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs