Gevo (GEVO -18.9%) shares are tanking after announcing public offerings of its stock and...

|By:, SA News Editor

Gevo (GEVO -18.9%) shares are tanking after announcing public offerings of its stock and convertible senior notes due 2022. The maker of biofuels products plans to use the net proceeds to pay back part of its outstanding long-term debt, to pay the cash component to finish the retrofit of its Luverne, Minn., plant and to partially pay for the Redfield Energy retrofit.