The company sold 7.2 million shares at $10 per share, well below its midpoint target of $14 per share announced last week, with total proceeds of up to $82.8 million if all over-allotments are covered by underwriters. Without over-allotment sales, the offering will raise $72 million.
UBS Securities LLC and Piper Jaffray & Co. are acting as joint book-running managers for the offering. Stifel, Nicolaus & Company, Incorporated and Canaccord Genuity Inc. are acting as co-managers.
Of the shares of common stock in the offering, Renewable Energy Group is offering 6,857,140 shares and selling stockholders are offering 342,860 shares. In addition, Renewable Energy Group has granted the underwriters a 30-day option to purchase up to 1,080,000 additional shares of common stock to cover over-allotments, if any.