DryShips Inc. announces pricing of 250,000,000 shares of common stock
DryShips Inc. priced the offering of 250,000,000 shares of its common stock, par value $0.01 p er share, at a price of $ 1.40 per share, the company said in its press release. The offering is expected to close on October 29 , 2014. As part of the offering, George Economou, the Company’s Chairman, President and Chief Executive Officer, has purchased $80 million, or 57,142,857 shares, of common stock in the offering at the public offering price.
RS Platou Markets, Inc. and Pareto Securities Inc. are acting as joint lead managers, joint bookrunners and placement agents in the offering. ABN AMRO Securities (USA) LLC is acting as joint lead manager and placement agent. DVB Capital Markets LLC is acting as co - manager and placement agent. RS Platou Markets AS and Pareto Securities AS are a cting as placement agents.
RS Platou Markets AS and Pareto Securities AS are not U.S. registered broker - dealers and to the extent that this offering is made within the United States, their activities will be effected only to the extent permitted by Rule 15a - 6 of the Securi ties Exchange Act of 1934, as amended. The Company intends to use the net proceeds from the offering to repurchase a portion of its $700.0 million principal amount of indebtedness under the 5.0% Convertible Senior Notes maturing on December 1, 2014.