Shriek: Dilution. DRIV will have 16,913,715 shares outstanding after the offering. But diluted shares appear to be higher. Adding in the options/warrants outlined below, there are 19.2 million fully diluted shares. Now add in the 480,000 overallotment shares to the undertakers, I mean underwriters, and we're talking 19.7 million shares. That's a lot.
At 50 bucks/share, DRIV would be valued at almost a billion dollars. Can you say nosebleed?
Wade
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Common Stock to be outstanding after the offering.......... 16,913,715 shares (1)
(1) Based on shares outstanding as of June 30, 1998. Excludes (i) 1,532,087
shares of Common Stock issuable upon exercise of options outstanding as of
June 30, 1998 at a weighted average exercise price of $2.16 per share, (ii)
803,008 shares of Common Stock issuable upon exercise of warrants
outstanding as of June 30, 1998 at a weighted average exercise price of
$2.52 per share |
