Renewable fuels company Gevo, Inc. (GEVO) operates through the four broad segments of Gevo; Agri-Energy; Renewable Natural Gas; and Net-Zero. The company engages in the commercialization of gasoline, jet fuel, and diesel fuel and aims to achieve zero carbon emissions in the future.
On June 6, the company announced that it had entered into definitive agreements with several institutional investors for the purchase and sale of 33.33 million of its common stock and accompanying warrants for buying another 33.33 million more in exchange for capital that the company intends to use for its general operations. However, with the deal expected to dilute current shareholders’ stake in the company, the stock price plummeted on the news.
