DryShips Inc (fka DRYS)

[pennyvestor]

Look at the bold figures below. It looks to me that the company has already received two million in proceeds.

Proceeds of $74.3 million + approximately $128.7 million = $203 million.

Am I seeing this wrong???

From the 6-K filed this evening below:

As mutually agreed to by the Company and the Investor, the Company sold 44,958,830 Shares to the Investor, pursuant to a Fixed Request Notice with a Fixed Request Amount Requested of $75.0 million following a Pricing Period from February 27, 2017 to March 3, 2017. The Fixed Request Amount was $75.0 million, subject to a price per share of approximately $1.67 mutually agreed to by the parties for an aggregate gross purchase price of $75.0 million, resulting in estimated net proceeds of $74.3 million, after deducting the Company's estimated aggregate offering expenses.

Between the date of the Purchase Agreement, February 17, 2017, and March 3, 2017, the Company has sold an aggregate 67,441,201 Shares to the Investor at an average price of approximately $1.93 per share. The aggregate gross purchase price for these Shares was $130.0 million. The Company's estimated aggregate net proceeds from the sale of these Shares is approximately $128.7 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 103,974,393 shares of common stock outstanding. As of the date hereof, up to $70.0 million of the Shares is remaining that the Company may sell pursuant to the Purchase Agreement.

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