DryShips Inc. Announces Results Of Rights Offering
DRYSHIPS (DRYS)
US:NASDAQ Investor Relations:
dryships.irwebpage.com/ir.html
Company Research
Source: Marketwire
ATHENS, GREECE -- (Marketwired) -- 10/04/17 -- DryShips Inc. (NASDAQ: DRYS) ("DryShips" or the "Company"), a diversified owner of ocean going cargo vessels, today announced the final results of its previously announced rights offering of shares of the Company's common stock, par value $0.01 per share ("Common Stock"), which expired at 5:00 p.m., New York City time, on October 2, 2017. The offering was fully financed and the Company raised $100.0 million of gross proceeds, including a $99.2 million investment by Sierra Investments Inc. ("Sierra"), an entity affiliated with the Company's Chairman and Chief Executive Officer, Mr. George Economou, pursuant to a backstop commitment by Sierra. Rights holders subscribed for an aggregate of 305,760 shares of Common Stock and the Company raised approximately $0.8 million of gross proceeds therefrom, while 36,057,876 shares of Common Stock will be issued to Sierra. Shares of Common Stock will be delivered to subscribers in the rights o
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