Dryships Completes “ATM” Equity Offering

Thursday, May 28, 2009

DryShips Inc. (NASDAQ:DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced the completion of the ATM Equity Offering in which the company raised gross proceeds of approximately $475m since commencing the offering pursuant to the prospectus supplement filed on May 7 2009. Merrill Lynch & Co. acted as sales agent in the offering. Following the completion of the program, the Company has approximately 257,645,000 common shares outstanding.

George Economou, Chairman and Chief Executive Officer of the Company commented, “We have successfully completed our latest $475 million equity offering in market conditions where many established companies are struggling to raise capital. The liquidity of DryShip’s provides us with an unparalled ability to tap the capital markets. We would like to thank Merrill Lynch & Co. for their assistance. So far in 2009 we have raised almost $1 billion of equity, cancelled $2 billion of CAPEX, repaid over $600 million of debt and obtained bank waivers for a substantial portion of our outstanding debt. We continue to work tirelessly to obtain the rest of the waivers and examine all alternatives to further strengthen the balance sheet of the company. DryShips is now in a position to take advantage of any opportunities to grow the company.”

(www.dryships.com)

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Ross is Fleet Manager, Heidmar

Heidmar announced the promotion of Duncan Ross to Fleet Manager. Duncan joined Heidmar’s London office in 2012 as vessel manager.  Prior to joining Heidmar,

Diana Shipping Nets 2Q Loss

Diana Shipping Inc. today reported a net loss of $14.1 million and net loss attributed to common stockholders of $15.5 million for the second quarter of 2015, compared to net loss of $5.

U.S. Drillers Add Rigs Despite Crude Collapse

U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1168 sec (9 req/sec)