I received the perspectus, and this is how it it reads:
'The Basic Subscription Right gives our shareholders the opportunity to purchase 1.1526 shares for every share of Common Stock owned on the Record Date at a subscription price of $2.75 per share. For example, if you owned 1,000 shares of our Common Stock, as of 5:00 p.m., New York City time on The Record Date, your Basic Subscription Right would entitle you to receive 1,000 Rights and you would have the right to purchase 1,152 shares (rounded down from 1,152.60) of Common Stock for $2.75 per share.'
That's straight from the perspectus. I have not exercised the option, as I'm not too far off in my own share price as it is, I'm 10k deep, and there's always risk, especially with GE and DRYS. Just trying to provide clarity. I hope this helps. GLTA.
