DryShips Inc (fka DRYS)

[ash111]

will probably continues to dilute on Monday thru the revers split.52m shares been traded today. I won't be surprised if O/S is way over 70m a/o today.
"Between the date of the Purchase Agreement, December 23, 2016, and January 13, 2017, the Company has sold an aggregate 35,240,561 Shares to the Investor at an average price of approximately $2.44 per share. The aggregate gross purchase price for these Shares was $86.1 million. The Company's estimated aggregate net proceeds from the sale of these Shares is approximately $85.2 million, after deducting estimated aggregate offering expenses. Following the settlement for all of such Shares sold as of the date hereof, the Company will have a total of 69,333,763 shares of common stock outstanding. As of the date hereof, up to $113.9 million of the Shares is remaining that the Company may sell pursuant to the Purchase Agreement".

When was R/S announcement? The notice must be provided at least 10 days before the record date for the corporate action.

Read more: What are the SEC regulations regarding stock splits? | Investopedia http://www.investopedia.com/ask/answers/033015/what-are-sec-regulations-regarding-stock-splits.asp#ixzz4WLAOKmPY
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