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Non-Tech : $2 or higher gas - Can ethanol make a comeback? -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (934)	4/1/2006 2:00:58 AM
From: Glenn Petersen	Read Replies (1) \| Respond to of 2801

Funds affiliated with Morgan Stanley purchased 21,179,025 shares of Aventine, equal to a 39.6% interest, at $13.00 per share on December 30, 2005. On March 30, 2006, the shares were being quoted at $21.25 per share on the PORTAL Market. Not a bad return for a three-month period. On December 30, 2005, we completed a private offering of 21,179,025 shares of our common stock exempt from registration under the Securities Act for $13.00 per share. We received net proceeds from that sale of approximately $256.1 million after deducting the initial purchasers' discount of approximately $19.3 million. We used all of the net proceeds of the offering to repurchase an equal number of shares of our common stock from our existing stockholders. Of the $1.8 million of offering expenses, $1.5 million were reimbursed by Metalmark and $0.3 million were paid and expensed by the Company. sec.gov