DryShips cancels stock deal with Kalani [Seeking Alpha]
DRYSHIPS (DRYS)
US:NASDAQ Investor Relations:
dryships.irwebpage.com/ir.html
Company Research
Source: Seeking Alpha
DryShips (NASDAQ: DRYS ) announces that it terminated a stock purchase agreement with Kalani Investments. The company says CEO George Economou will either directly or though affiliated entities acquire $100M shares at $2.75 per share. Economou won't be able to sell the shares for six months after closing. A rights offering gives shareholders the option to also buy shares at $2.75 per share at a pro rata percentage. DryShips grees not to conduct any more equity offerings until December 31 without unaffilated holders approving the transaction. Shares of DryShips are still in a trading halt after the flurry of activity. Now read: Very Strong Court Case Against DryShips And Kalani »
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