Gevo Inc (GEVO)

[Dutch1]

"GEVO today announced that it has entered into definitive agreements with several institutional investors for the purchase and sale of an aggregate of 33,333,336 shares of common stock, and accompanying warrants to purchase up to an aggregate of 33,333,336 additional shares of common stock, at a public offering price of $4.50 per share and accompanying warrant in a registered direct offering priced at-the-market under Nasdaq rules. The warrants have an exercise price of $4.37 per share, are immediately exercisable upon issuance and will expire five years following issuance.”

“The gross proceeds from the offering are expected to be $150 million, prior to deducting placement agent’s fees, advisory and other offering expenses payable by Gevo and assuming none of the warrants issued in the offering are exercised for cash.”

So it is about 66,666,672 shares, representing $150 million dollar.

150,000,000 / 66,666,672 = 2.25 per share? Or am I seeing this wrong?