Gevo, Inc. (NASDAQ:GEVO) traded 3,297,771 shares on last trading session with closing price of $1.13.
Gevo, Inc. (GEVO), declared recently that WB Gevo, Ltd., the holder of the Company’s issued and outstanding Senior Secured Convertible Notes, due June 23, 2017 (the “2017 Notes”), and the Company have reached an Exchange and Purchase Agreement (the “Purchase Agreement”) following which Whitebox has agreed to exchange (the “Exchange”) all $16.5 million of the existing 2017 Notes for the Company’s newly created 12.0% Senior Secured Convertible Notes due 2020 (the “2020 Notes”). The Exchange and the issuance of the 2020 Notes require stockholder approval.
The key terms of the 2020 Notes are as follows:
Maturity Date: The 2020 Notes will mature on March 15, 2020.
Interest: The 2020 Notes will accrue interest at 12% per annum, with 10% payable in cash and 2% payable as Payment in Kind (“PIK”) interest. The PIK interest is paid by increasing the principal amount of the 2020 Notes by the amount of PIK interest due.
Conversion and Conversion Price: The 2020 Notes are convertible, at the option of the holders, into shares of the Company’s common stock. The 2020 Notes will have an initial conversion price (the “Conversion Price”) equal to the lesser of (i) $1.196 per share, or (ii) a premium of 15% to the closing price of the Company’s common stock on the date of the Exchange.
Conversion Price Reset and Adjustments: Upon certain equity financing transactions by the Company, the holders will have a one-time right to reset the Conversion Price (i) in the first 90 days following the Exchange, at a 25% premium to the common stock price in the equity financing and (ii) after 90 and before 180 days following the Exchange, at a 35% premium to the common stock share price in the equity financing.
Holder Option: The holders have an option, subject to certain conditions, to purchase up to an additional $5.0 million aggregate principal amount of 2020 Notes within 90 days of the closing of the exchange contemplated by the Purchase Agreement.
The Exchange and the issuance of the 2020 Notes requires stockholder approval and will be voted on at the Company’s Annual Meeting of Stockholders planned for June 15, 2017.
GEVO was trading -95.85% below its 52-week high and 22.83% above its 52-week low. Its last 5-Year EPS growth stands at 56.80%; with earnings growth of 96.30% yoy. The stock stands -8.99% below the average-price of 50 days and 4.82% compared with the SMA 20.
The stock has a 1-year performance down -79.82% and a positive weekly performance at 7.62%. Moreover, the stock is up 6.60% in one month through last close, to $1.13, showing a -67.99% return during the past three months. The company is set at a mean analysts’ recommendation of 2.00.
L Brands Inc (NYSE:LB) shares moved to $49.66 after opening the day at $49.00, on Thursday. The stock floated in a price range of $49.00 to $50.32, with market capitalization of $14.36B. The stock exchanged hands with 3,361,993 shares lower as compared to its average daily volume of 4.45M shares. If we take a look on its volatility, 1.79 percent was seen in a week and for the month it was 2.40 percent.
The company’s net profit margin stands at 9.20% whereas its return on equity (ROE) is -112.00%. It has 284.81M of outstanding shares and its shares float measured at 239.38M. The average analysts gave this company a mean recommendation of 2.80.