Aventine Renewable Energy Holdings, Inc. Commences Private Offering of Common Stock.PEKIN Pekin (pē`kĭn), city (1990 pop. 32,254), seat of Tazewell co., central Ill., a port on the Illinois River; inc. 1839. A processing, rail, and shipping point in a grain, livestock, and dairying area, Pekin has a large food industry. , Ill. -- Aventine Renewable Energy Renewable energy utilizes natural resources such as sunlight, wind, tides and geothermal heat, which are naturally replenished. Renewable energy technologies range from solar power, wind power, and hydroelectricity to biomass and biofuels for transportation. Holdings, Inc. ("Aventine") announced that it had commenced a private offering of 22,000,000 shares of its common stock at an offering price of $15.00 per share. Aventine intends to use all of the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). , estimated to be $306.9 million, to repurchase an equal number of shares from its existing stockholders. The shares have not been and will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. absent registration or an applicable exemption from the registration requirements. Aventine will agree to file a registration statement covering subsequent resales of the shares of common stock sold in the offering. |
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