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DryShips Inc. Announces Closing of Offering
of 250,000,000 Shares of Common Stock
Athens, Greece, October 29, 2014
DryShips Inc. (NASDAQ: DRYS) (the “Company” or “DryShips”) announced today that it closed the previously announced offering of 250,000,000 shares of its common stock (the “Offered Shares”). The Company also recently announced the pricing of the Offered Shares at $1.40 per share. RS Platou Markets, Inc. and Pareto Securities Inc. acted as joint lead managers, joint bookrunners and placement agents in the offering. ABN AMRO Securities (USA) LLC acted as joint lead manager and placement agent. DVB Capital Markets LLC acted as co-manager and placement agent. RS Platou Markets AS and Pareto Securities AS acted as placement agents. The total net proceeds to the Company from the offering, after deducting offering fees and expenses, were approximately $333.7 million. The Company intends to use the net proceeds from the offering to repurchase a portion of its $700.0 million principal amount of indebtedness under the 5.0% Convertible Senior Notes maturing on December 1, 2014.
The Company’s common shares trade on the Nasdaq Global Select Market under the symbol “DRYS.”
DryShips Inc. Announces Pricing of 250,000,000 Shares of Common Stock
Athens, Greece, October 24, 2014
DryShips Inc. (NASDAQ: DRYS) (the “Company” or “DryShips”) announced today that it priced the offering of 250,000,000 shares of its common stock, par value $0.01 per share, at a price of $1.40 per share. The offering is expected to close on October 29, 2014. As part of the offering, George Economou, the Company’s Chairman, President and Chief Executive Officer, has purchased $80 million, or 57,142,857 shares, of common stock in the offering at the public offering price.
RS Platou Markets, Inc. and Pareto Securities Inc. are acting as joint lead managers, joint bookrunners and placement agents in the offering. ABN AMRO Securities (USA) LLC is acting as joint lead manager and placement agent. DVB Capital Markets LLC is acting as co-manager and placement agent. RS Platou Markets AS and Pareto Securities AS are acting as placement agents. RS Platou Markets AS and Pareto Securities AS are not U.S. registered broker-dealers and to the extent that this offering is made within the United States, their activities will be effected only to the extent permitted by Rule 15a-6 of the Securities Exchange Act of 1934, as amended. The Company intends to use the net proceeds from the offering to repurchase a portion of its $700.0 million principal amount of indebtedness under the 5.0% Convertible Senior Notes maturing on December 1, 2014.
The Company’s common shares trade on the Nasdaq Global Select Market under the symbol “DRYS.”
DryShips Inc. Announces Offering of Common Stock
Athens, Greece, October 23, 2014
DryShips Inc. (NASDAQ: DRYS) (the “Company” or “DryShips”) announced today that it launched an offering of its common stock, par value $0.01 per share. RS Platou Markets, Inc. and Pareto Securities Inc. are acting as joint lead managers, joint bookrunners and placement agents in the offering. ABN AMRO Securities (USA) LLC is acting as joint lead manager and placement agent. DVB Capital Markets LLC is acting as co-manager and placement agent. RS Platou Markets AS and Pareto Securities AS are acting as placement agents. RS Platou Markets AS and Pareto Securities AS are not U.S. registered broker-dealers and to the extent that this offering is made within the United States, their activities will be effected only to the extent permitted by Rule 15a-6 of the Securities Exchange Act of 1934, as amended. The Company intends to use the net proceeds from the offering to repurchase a portion of its $700.0 million principal amount of indebtedness under the 5.0% Convertible Senior Notes maturing on December 1, 2014.
The Company’s common shares trade on the Nasdaq Global Select Market under the symbol “DRYS.” This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. This offering is being made only by means of a prospectus supplement and accompanying base prospectus. A prospectus supplement related to the offering will be filed with the U.S. Securities and Exchange Commission (the “SEC”) and will be available on the SEC’s website located at www.sec.gov. When available, copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained from RS Platou Markets, Inc., 410 Park Avenue, 7th Floor, Suite 710, New York, NY 10022, Attention: Raquel Lucas (or by e-mail at office@platou.com) or Pareto Securities Inc., 150 East 52nd Street, 29th Floor, New York, NY 10022, Attention: Kjersti Berg Tufta (or by e-mail at kbt@paretosec.com).
The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties, including those discussed below, that could cause the outcome to be materially different.
About DryShips
DryShips Inc. is an owner of drybulk carriers and tankers that operate worldwide. Through its majority owned subsidiary, Ocean Rig UDW Inc., DryShips owns and operates 13 offshore ultra deepwater drilling units, comprising of 2 ultra deepwater semisubmersible drilling rigs and 11 ultra deepwater drillships, 1 of which is scheduled to be delivered to Ocean Rig during 2015, 1 of which is scheduled to be delivered to Ocean Rig during 2016 and 2 of which are scheduled to be delivered during 2017. DryShips owns a fleet of 39 drybulk carriers, comprising 13 Capesize, 24 Panamax and 2 Supramax with a combined deadweight tonnage of approximately 4.3 million tons, and 10 tankers, comprising 4 Suezmax and 6 Aframax, with a combined deadweight tonnage of over 1.3 million tons. DryShips’ common stock is listed on the Nasdaq Global Select Market
DryShips Inc. press release
