Renewable Vitality Group declares elevated providing of 5,000,000 frequent shares
AMES, Iowa – (BUSINESS WIRE) – Renewable Vitality Group, Inc. (“REG”) (NASDAQ: REGI) right now introduced the worth of a subscribed public providing of 5,000,000 frequent shares at a public providing worth of $ 67.00 per share. The scale of the providing went from 4,500,000 shares to five,000,000 shares.
The gross proceeds of this providing to REG, earlier than deduction of reductions and gross sales commissions and distribution charges payable by REG, are anticipated to be $ 335 million. All shares are provided by REG. The supply is predicted to shut on or round March 19, 2021, topic to customary closing situations. As well as, REG has granted the underwriters taking part within the Supply a 30-day choice to buy as much as 750,000 further shares of its frequent shares on the public supply worth, much less any subscription reductions and commissions.
REG intends to make use of the online proceeds of this providing for working capital and different normal company functions, which can embrace the reimbursement of present debt and the financing of capital expenditures, together with capital expenditures associated to the growth of the Geismar biorefinery in Louisiana. REG may additionally use a portion of the online proceeds of this providing to fund potential strategic transactions, though it doesn’t at present have any binding commitments or agreements to finish such a transaction.
Credit score Suisse, BofA Securities and Guggenheim Securities act as co-bookkeepers for the providing, and Piper Sandler and Roth Capital Companions act as co-managers.
Shares can be issued in accordance with a previous registration assertion filed upfront and subsequently declared efficient by the Securities and Alternate Fee (“SEC”). A preliminary prospectus complement and associated prospectus regarding the providing have been filed with the SEC and can be found on the SEC’s web site at http://www.sec.gov. A closing prospectus complement and associated prospectus can be filed with the SEC. A duplicate of the Ultimate Prospectus Complement and accompanying prospectus regarding the Supply, when obtainable, will be obtained by contacting Credit score Suisse Securities (USA) LLC, Attn .: Prospectus Division, 6933 Louis Stephens Drive, Morrisville, NC 27560, by telephone at (800) 221-1037, or by electronic mail at [email protected]; BofA Securities, Attn: Prospectus Division, NC1-004-03-43, 200 North School Road, third Ground, Charlotte, North Carolina 28255-0001 or by electronic mail at [email protected]; Guggenheim Securities, LLC, Consideration: Fairness Syndicate Division, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-9544 or by electronic mail at [email protected]
This press launch doesn’t represent and mustn’t represent a proposal to promote or the solicitation of a proposal to purchase any securities, and there can be no sale of such securities in any state or different jurisdiction during which such providing, solicitation or sale can be unlawful. previous to registration or qualification beneath the securities legal guidelines of any such state or different jurisdiction. Any providing, if any, can be made solely via a prospectus, together with a prospectus complement, forming half of the particular registration assertion.
About Renewable Vitality Group
Renewable Vitality Group, Inc. (NASDAQ: REGI) is main the power business’s transition to sustainability by turning renewable sources into cleaner, higher-quality fuels. REG is a world producer of cleaner fuels and the biggest producer of biodiesel in North America. REG options are alternate options to petroleum diesel and produce considerably decrease carbon emissions. REG makes use of an built-in provide, distribution and logistics community to function 12 biorefineries in the USA and Europe. In 2020, REG produced 519 million gallons of cleaner gas, delivering 4.2 million metric tonnes of carbon discount. REG responds to the rising international demand for low-carbon fuels and paves the way in which for a extra sustainable future.
Notice concerning forward-looking statements
This press launch accommodates forward-looking statements throughout the which means of the Non-public Securities Litigation Reform Act of 1995, together with statements regarding REG’s expectations concerning the anticipated cut-off date of the providing and its intentions concerning the usage of the online proceeds. of the supply. These forward-looking statements are primarily based on present expectations and assumptions, are topic to vary and precise outcomes might differ materially. Elements prone to trigger precise outcomes to range considerably embrace these regarding the satisfaction of the closing situations of the supply, the flexibility of REG to acquire further or various financing to finance its capital expenditures, the truth that the administration of REG can have broad discretion in the usage of the online proceeds of the providing and different dangers described in REG’s annual report on Kind 10-Ok for the fiscal yr ended December 31, 2020 and infrequently in different periodic REG filings with the SEC. All forward-looking statements are made as of the date of this press launch, and REG doesn’t undertake to replace any forward-looking statements primarily based on new developments or modifications in our expectations.