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Gevo, Summit Hotel: IPO Briefs


NEW YORK ( TheStreet) --

Renewable chemicals and advanced biofuels company Gevo (GEVO - Get Report) said Wednesday that its initial public offering priced at $15 a share on 7.2 million shares -- the high end of the company's expected range.

GEVO's had provided a range $13 to $15.

Overall, the company raised $107 million, but expects net proceeds to be $95.7 million after deducting underwriting and other estimated expenses related to the offering.

Shares of the company have popped 7.3% to at $16.09.


Real estate investment trust Summit Hotel Properties (INN - Get Report) said Wednesday that the pricing of its initial public offering was $9.75 a share, on 26 million shares of common stock -- below the expected range.

The expected offering range was $10.50 to $12.50.

Overall the company raised $254 million.

The offering is expected to close on Feb. 14.

Shares of the company have risen 1% to $9.85 in morning trading.


On Tuesday, Chinese TV advertising company China Century Dragon Media (CDM) announced that initial offerings of its common stock priced at $5.25 a share, as anticipated, on 1.2 million shares.

$6 million was raised from the IPO.

Shares of the company fell 0.9% to$ 5.25.

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-- Written by Andrea Tse in New York.



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