DryShips Inc. Announces Successful Completion of the $200.0

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
167
DryShips Inc. Announces Successful Completion of the $200.0 Million Common Stock Offering

ATHENS, GREECE--(Marketwired - Mar 17, 2017) -  DryShips Inc. (NASDAQ: DRYS) (the "Company"), a diversified owner of ocean going cargo vessels, announced today that it has successfully completed the previously announced $200.0 million common stock offering, in which the Company raised net proceeds of $198.0 million, pursuant to the prospectus supplement filed on February 17, 2017.

Following the completion of the offering, the Company has approximately 152,055,576 common shares outstanding.

Mr. George Economou, Chairman and CEO commented:

"We are very pleased to have successfully raised an additional $198 million of equity, which will increase our total available liquidity to about $455 million. We continue to look at opportunities to diversify and grow our fleet with high quality tonnage and significant operating leverage."

About DryShips Inc. The Company is a diversified owner of ocean going cargo vessels that operate worldwide. The Company owns a fleet of (i) 13 Panamax drybulk carriers, which have a combined deadweight tonnage of approximately 1.0 million dwt, (ii) one Very Large Crude Carrier and one Aframax tanker newbuilding, each of which are expected to be delivered in the second quarter of 2017, (iii) 2 Very Large Gas Carrier newbuildings which are expected to be delivered in the second and third quarter of 2017, respectively, and (iv) six offshore support vessels, comprising two platform supply and four oil spill recovery vessels.

The Company's common stock is listed on the NASDAQ Capital Market where it trades under the symbol "DRYS."

Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with such safe harbor legislation.

Forward-looking statements reflect the Company's current views with respect to future events and may include statements concerning plans, objectives, goals, strategies and other statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in the Company's records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company's control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

Important factors that, in the Company's view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including changes in charter rates and vessel values, failure of a seller or shipyard to deliver one or more vessels, failure of a buyer to accept delivery of a vessel, the Company's inability to procure financing for acquisitions, capital expenditures or refinancing for existing indebtedness on acceptable terms or at all, defaults or contract terminations by one or more charterers of the Company's vessels, changes in demand for drybulk, oil or liquefied petroleum gas commodities, liquefied petroleum gas, oil or offshore support services, changes in charter rates that may affect the willingness of time charterers to complete their charters or cause time charterers to seek to renegotiate charters, scheduled and unscheduled drydocking, changes in the Company's voyage and operating expenses, including bunker prices, drydocking and insurance costs, changes in governmental rules and regulations, changes in the Company's relationships with the lenders under its debt agreements, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents, international hostilities and political events or acts by terrorists.

Risks and uncertainties are further described in reports filed by the Company with the Securities and Exchange Commission, including the Company's most recently filed Annual Report on Form 20-F.

Risks and uncertainties are further described in reports filed by the Company with the SEC, including the Company's most recently filed Annual Report on Form 20-F.

Investor Relations / Media: Nicolas Bornozis Capital Link, Inc. (New York) Tel. 212-661-7566 E-mail: dryships@capitallink.com

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Yiren Digital Faces Tough Road Amid Legal Headaches

Updated Category News Views 69

Trouble Brewing for Yiren Digital Cracks in the wall, or just another storm for YRD investors? Folks investing in Yiren Digital Ltd. got a shock as the stock took a plunge by a staggering 44.05%. This ain't your typical day on Wall Street. The collapse followed the messy disclosure of alleged securities fraud, shaking up the trust these guys had from April to October...

Continue Reading
Simtra Invests $250M in Major Expansion at Bloomington

Updated Category News Views 101

Simtra BioPharma's Big Leap Forward Simtra BioPharma Solutions is making waves with their hefty $250 million investment, debuting their substantial expansion in Bloomington, Indiana. Building H isn't just another upgrade; it's a key piece in their ambitious strategy to bolster their sterile injectable manufacturing capacity. Lovers of big biotech moves, this one's worth...

Continue Reading
Specialty1 Partners: Top Workplaces Triumph in 2026

Updated Category News Views 96

Employees Crown Specialty1 Partners a Workplace Gem There are only a few things in the business world sweeter than being named a Top Workplace, and flying that banner proudly is exactly what Specialty1 Partners gets to do. Named a winner by the Houston Chronicle in 2026, this recognition is no regular accolade. It's built on the raw honesty that employee surveys provide,...

Continue Reading
Charitable Giving Turbocharges E-commerce Conversion Rates

Updated Category News Views 36

Charitable Giving: The Secret Sauce for E-commerce Success In an e-commerce arena teeming with bland sameness, charitable giving is proving to be a game-changing hook. That's right—brands partnering with Change and DailyKarma have found a magic formula where customers flourish and causes benefit. With over $7.4 million in donations spread across more than 3 million...

Continue Reading
When to Restore or Replace Hardwood Floors: Insights

Updated Category News Views 57

The Challenge of Decision-Making with Old Hardwood Listen up, folks. You know that feeling when you're eyeballing that scuffed-up hardwood floor, pondering if you're looking at a lost cause? Well, before you lift a finger or pull out a crowbar, maybe tune into what Nick Hopkins from Hopkins Floor Company has got to say in HelloNation's latest piece. He breaks it down,...

Continue Reading
DentScribe Smashes AI Perio Chart Test with Perfect Score

Updated Category News Views 64

High Stakes in Dental Tech: DentScribe's Impeccable Show The dental tech world just got a jolt, and it's not from your morning coffee. DentScribe, the brains cooking up some AI magic in Sunnyvale, has unleashed a real heavyweight. They dropped the mic on their Periodontal Charting Benchmark 1.0 by acing 68 out of 68 tests without breaking a sweat—literal perfection in...

Continue Reading
American Water's NARUC 2026 Role: Insight and Influence

Updated Category News Views 36

American Water Steers the Utility Ship at NARUC Ah, a classic move by American Water—rolling up to the 2026 NARUC Annual Meeting & Education Conference with guns blazing. They picked San Juan, Puerto Rico, as their battleground from November 8-11. Now, I know what you're thinking: a bit of sun, a bit of talk, but don’t let the sweet location fool you. It’s a...

Continue Reading
UTulsa's New Scholarship Fund: A Bold Step Forward

Updated Category News Views 96

Pioneering Education at UTulsa Have you ever heard of a private university in the middle of America's heartland capping its undergraduate tuition? That's exactly what the University of Tulsa is doing, setting its tuition and fees at $25,000 a year come fall 2027. And they're not stopping there. With a robust $4 million boost from the Asbjornson Foundation, they're rolling...

Continue Reading
LG Wins CES Honor with Breakthrough Battery Diagnostic Tech

Updated Category News Views 122

Speeding Up Diagnostics: A Major Leap Forward In a world where every second counts, LG Energy Solution strikes gold with their latest innovation, Re.Pulse. CES Innovation Awards 2027 has honored LG for this slick piece of tech that trims down battery diagnosis time from a snail's pace seven hours to a lightning-fast 10 minutes. It's not just about speed—it’s also...

Continue Reading
Small-Town Firm Rises to CNBC's Top 100 Advisors

Updated Category News Views 89

Defying Odds from a Small Town Let's talk about McKinley Carter Wealth Services snagging a spot on CNBC's 2026 Financial Advisor 100. Being the lone ranger from West Virginia in a sea of over 41,000 advisory firms ain't no small potatoes. That's right, this Wheeling-based firm landed at No. 98, solidifying its place amongst the top independent financial advisors in the...

Continue Reading

Top 5 Most Recently Viewed Articles

Yeahka Reports Strong Annual Results, Emphasizing AI Growth

Updated Category News Views 130

Yeahka Limited Reports on Annual Performance AI Applications Driving Innovation Yeahka Limited, a notable leader in the payment and digital commerce technology sector, is excited to present its annual performance results. This year marked significant advancements for the company, particularly through the broad application of artificial intelligence technology. These...

Continue Reading
Understanding Napco Security Technologies, Inc. Legal Issues

Updated Category News Views 173

Napco Security Technologies, Inc. Faces Legal Challenges In a significant legal development, investors in Napco Security Technologies, Inc. are confronting a class action securities lawsuit. This lawsuit, brought forth by Levi & Korsinsky, LLP, aims to advocate for the rights of shareholders adversely affected by alleged securities fraud. The company, commonly known as...

Continue Reading
Insights into DeFi Development's Rising Options Activity

Updated Category News Views 168

Understanding the Current Surge in Options Activity Investors have observed a notable shift in their approach to the options market surrounding DeFi Development (NASDAQ: DFDV). As big players adopt a bearish stance, it's essential for retail traders and average investors to tune in closely to the signals in the market. Significant Activity Indicators Recent data reveals...

Continue Reading
Digital Utilities Ventures Expands Ownership for Growth and Innovation

Updated Category News Views 229

Digital Utilities Ventures Strengthens Its Strategic Position Digital Utilities Ventures, Inc. (OTC: DUTV), recognized as a pioneer in regenerative agriculture and clean water technologies, has made a significant stride by consolidating full ownership of its previously majority-held subsidiary, Easy Modular Manufacturing, Inc. This strategic move positions DUTV for...

Continue Reading
CVS Health Unveils Leadership Changes to Enhance Services

Updated Category News Views 244

CVS Health Introduces Key Leadership Appointments CVS Health® (NYSE: CVS) has made significant strides in its leadership team with two recent appointments aimed at bolstering its operational efficiency and healthcare delivery. These transitions are crucial as the company aims to enhance its services for millions of Americans. Leadership Transition in Finance Brian Newman...

Continue Reading