March 8, 2010 (FinancialWire) — Green Plains Renewable Energy, Inc. (NASDAQ: GPRE) has priced the sale of 5,500,000 newly issued shares of its common stock at $13.50 per share.

Green Plains has also granted the underwriters a 30-day option to purchase up to an additional 825,000 shares to cover over-allotments, if any. The offering is expected to close on March 10, 2010.

The net proceeds to the company from this offering will be approximately $68.8 million, not including the over-allotment option, after deducting underwriting discounts and commissions and estimated offering expenses payable by the company. The company intends to use the net proceeds of this offering for general corporate purposes. While the company does not currently have any binding commitments or definitive agreements to enter into potential acquisitions, the company may also use a portion of the net proceeds to acquire or invest in additional facilities, assets or technologies consistent with the company’s growth strategy.

The joint book runners are Jefferies & company, Inc. and Piper Jaffray & Co., with Imperial Capital, LLC and Stephens Inc. acting as co-managers.

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