DryShips announces termination of the common stock purchase agreement with Kalani Investments
DryShips Inc., a diversified owner of ocean going cargo vessels, has terminated the common stock purchase agreement, dated April 3, 2017, by and between the Company and Kalani Investments Limited, a company organized and existing under the laws of the British Virgin Islands, effective immediately; (ii) Mr. Geo rge Economou, the Company’s Chairman and Chief Executive Officer, has agreed, either directl y or through his affiliated entities, to refrain from re-selling for a six month period any Company common shares to be acquired by him in the Proposed Transactions; and (iii) the Company has ag reed not to conduct any equity offerings until after December 31, 2017, without the prior ap proval of the majority of its unaffiliated shareholders.
About DryShips Inc
DryShips is a diversified owner of ocean going cargo vessels that operate worldwide. DryShips owns a fleet of (i) 13 Panamax drybulk vess els; (ii) 4 Newcastlemax drybulk vessels; (iii) 5 Kamsarmax drybulk vessels; (iv) 1 Very Larg e Crude Carrier; (v) 2 Aframax tankers; (vi) 1 Suezmax tanker; (vii) 4 Very Large Gas Carriers, 3 of which are expected to be delivered in September October and December of 2017; and (viii) 6 offshore support vessels, comprising 2 platform supply and 4 oil spill recovery vessels.