Gevo, a biofuels company that produces a fuel blendstock (isobutanol) made from renewable sources, announced terms for its IPO on Wednesday. The Englewood, CO-based company plans to raise $100 million by offering 7.15 million shares at a price range of $13-$15. At the mid-point of the proposed range, Gevo will command a market value of $349 million. Gevo, which was founded in 2005 and booked $2 million in sales for the 12 months ended September 30, 2010, plans to list on the NASDAQ under the symbol GEVO. UBS Investment Bank, Piper Jaffray and Citi are the lead underwriters on the deal, for which timing was not disclosed. Gevo is the fifteenth company to set terms for its upcoming IPO since the beginning of last week.
