2017 August 11 18:43

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.