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Subsequent Events
12 Months Ended
Dec. 31, 2016
Subsequent Events [Abstract]  
Subsequent Events

19. Subsequent Events

2017 Note extension transaction. In February 2017, WB Gevo, Ltd. (“Whitebox”), the holder of our issued and outstanding 10% Convertible Senior Notes, due 2017 (the “2017 Notes”), and the Company agreed to extend the maturity date of the 2017 Notes from March 15, 2017 to June 23, 2017 (the “2017 Notes Extension Transaction”).  Pursuant to the terms of a supplemental indenture, the terms of the 2017 Notes Extension Transaction include, among other things, the following: (i) an increase in the coupon on the 2017 Notes by two percent (2%) to twelve percent (12%); and (ii) the requirement that we pay down $8 million of principal on the 2017 Notes as follows: $2 million on each of March 13, 2017, April 13, 2017, May 12, 2017 and June 13, 2017, with an option for us to prepay all $8 million at any time in our sole discretion. In addition, as part of the 2017 Notes Extension Transaction, we agreed to pay Whitebox fifteen percent (15%) of the net proceeds from our next underwritten public offering, completed prior to June 23, 2017, and to be used to reduce the then-outstanding principal of the 2017 Notes, which would be in addition to the $8 million pay-down of the 2017 Notes described above.  On February 23, 2017, we paid down the principal balance on the 2017 Notes by with 15% of the net proceeds from the offering referred to below, along with the $8.0 million in prepayments under the supplemental indenture, for an aggregate total payment of $9.6 million, which reduced the principal balance on the 2017 Notes to approximately $16.5 million.

Issuance of common stock. In February 2017, we sold 5,680,000 Series G units, with each Series G unit consisting of one share of common stock, a Series K warrant to purchase one share of common stock and a Series M warrant to purchase one share of common stock, at a public offering price of $1.90 per Series G unit. We also agreed to sell 570,000 Series H units, with each Series H unit consisting of a pre-funded Series L warrant to purchase one share of common stock, a Series K warrant to purchase one share of common stock and a Series M warrant to purchase one share of common stock, at a public offering price of $1.89 per Series H unit.  The Series K warrants will have an exercise price of $2.35 per share, be exercisable beginning the date of original issuance and will expire on February 17, 2022. The Series L warrants will have an exercise price of $1.90 per share, which will be pre-paid upon issuance, except for a nominal exercise price of $0.01 per share and, consequently, no additional payment or other consideration (other than the nominal exercise price of $0.01 per share) will be required to be delivered to us by the holder upon exercise of the Series L warrants. The Series L warrants will be exercisable from the date of original issuance and will expire on February 17, 2018. The Series M warrants will have an exercise price of $2.35 per share, be exercisable beginning on the date of original issuance and will expire on November 17, 2017. The shares of common stock and the warrants will be immediately separable and will be issued separately.  The gross proceeds to us from this offering were approximately $11.9 million, not including any future proceeds from the exercise of the warrants.

2022 Note exchanges. In January 2017, we entered into private exchange agreements with holders of our 7.5% convertible 2022 Notes to exchange an aggregate of $8.4 million of principal amount of 2022 Notes for an aggregate of 2,155,382 shares of common stock. These exchanges reduced the outstanding principal amount of the 2022 Notes to $1.2 million.

Reverse stock split. Effective  January 5, 2017, we effected a one-for-twenty reverse split of the Company’s issued and outstanding common stock (the “Reverse Stock Split”).  Upon the stock split, every twenty shares of the Company’s common stock issued and outstanding were automatically combined into one share of common stock, without any change in the par value per share.

NASDAQ Compliance. In January 2017, the Company received notice from The NASDAQ Stock Market LLC that effective January 20, 2017 it had regained compliance with the NASDAQ Capital Market’s minimum bid price continued listing requirement of at least ten consecutive days with a closing bid price of its common stock in excess of $1.00.