to-the-point: Gevo carries out reverse stock split

Author: bfishadow. License: Creative Commons, Attribution 2.0 Generic

June 5 (Renewables Now) - US biofuels company Gevo Inc (NASDAQ:GEVO) on Friday announced the execution of a 1-for-20 reverse stock split after its stockholders approved the move at an annual meeting on May 30.  

The reverse stock split is designed to increase the market price per share of the company's common stock, so that it can maintain its listing on the Nasdaq Capital Market.

Following the reverse stock split, Gevo will have 1.3 million shares of common stock currently outstanding, compared to around 25.8 million shares previously. Trading on a split-adjusted basis started on Monday.

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Browse all articles from Plamena Tisheva

Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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