No, I see what you were thinking there but I think your looking at the math wrong. Check the prospectus from the offering as it was 40 million before and the actual offering was 10 million with option to buy another 1.5 million giving the current 51 million outstanding:
The number of shares of our common stock to be outstanding after this offering is based on 40,005,854 shares of our common stock issued and outstanding as of June 30, 2017.
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