Is the Alaska Air Deal Enough to Save Gevo?

Shares of Gevo (GEVO) - Get Report have been on a wild ride this week and the biofuels seller is by no means out of the woods even after signing a deal with Alaska Air (ALK) - Get Report , said Carleton English, analyst at Real Money. Gevo agreed to sell over 21 million shares of common stock today at a public offering price of 45 cents per share. The gross proceeds to Gevo from this offering are expected to be approximately $9.5 million. The offering is sinking shares of the debt-troubled Gevo, which soared earlier this week on news of a deal to supply its renewable alcohol-to-jet fuel to Alaska Air.