DryShips Inc. has successfully completed the previously announced $200 million common stock offering, in which the Company raised net proceeds of $198 million, pursuant to the prospectus supplement filed on February 17, 2017. Following the completion of the offering, the Company has approximately 152,055,576 common shares outstanding. George Economou, Chairman and CEO commented: "We are very pleased to have successfully raised an additional $198 million of equity, which will increase our total available liquidity to about $455 million. We continue to look at opportunities to diversify and grow our fleet with high quality tonnage and significant operating leverage." The Company is a diversified owner of ocean going cargo vessels that operate worldwide. The Company owns a fleet of (i) 13 Panamax drybulk carriers, which have a combined deadweight tonnage of approximately 1.0 million dwt, (ii) one Very Large Crude Carrier and one Aframax tanker newbuilding, each of which are expected to be delivered in the second quarter of 2017, (iii) 2 Very Large Gas Carrier newbuildings which are expected to be delivered in the second and third quarter of 2017, respectively, and (iv) six offshore support vessels, comprising two platform supply and four oil spill recovery vessels
Northrop Grumman Corporation announced in connection with its offer to acquire all of the outstanding shares (including associated preferred stock purchase rights) of Newport News Shipbuilding that the exchange ratio for the common stock of Newport News has been fixed at 0.7193. Accordingly, stockholders of Newport News who elect to receive solely Northrop Grumman common stock in the offer will receive approximately 0
In a move which effectively creates a defense and marine naval construction giant, Northrop Grumman Corp. and Litton Industries jointly announced late last month that they have signed a definitive agreement under which Northrop Grumman will acquire for cash all of the outstanding shares of Litton for $80 per common share and $35 per Series B Preferred share. The transaction is valued at approximately $5.1 billion, which includes the assumption of Litton's $1.3 billion in net debt.
Crowley Maritime Corporation reached a proposed settlement in the pending Franklin Balance Sheet Investment Fund v Crowley ("Franklin") litigation, a purported class action and derivative complaint filed in November 2004 against certain members of the board of directors and Crowley. The plaintiffs in that lawsuit have agreed to its dismissal if they and the other unaffiliated holders of Crowley common stock have the opportunity, through a tender offer, to sell their common stock for $2
Ardmore Shipping Corporation announced that GA Holdings LLC intends to offer for sale in an underwritten public offering 4,000,000 shares of the Company's common stock. The Selling Shareholder expects to grant the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock. The shares to be sold by the Selling Shareholder, excluding shares subject to the option
Royal Caribbean Cruises Ltd. has priced the public offering of 10,800,000 shares of its common stock at a price of $46 11/16 per share. Of the 10,800,000 shares offered, 10,000,000 shares are being sold by the company, and 800,000 shares are being sold by a selling shareholder. The company has granted to the underwriters of the offering an option to purchase up to an additional 1,620,000 shares of common stock to cover over-allotments
Athens - Costamare Inc. announced that its offering of 7,500,000 shares of its common stock was priced at $14.10 per share. The gross proceeds from the offering before the underwriting discount and other offering expenses are expected to be approximately $105,750,000. Members of the Konstantakopoulos family, who in the aggregate own a majority of the common stock of the Company, have agreed to purchase 750,000 shares in the offering
Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced that it is commencing a public offering of 5,000,000 shares of its common stock under the Company’s effective shelf registration statement. In addition, one of the Company’s shareholders will be offering 750,000 shares. Wachovia Securities and Oppenheimer & Co. will act as joint bookrunning managers
Maritrans Inc. announced that its Board of Directors has approved the initiation of a modified "Dutch auction" tender offer by Maritrans to purchase up to 2,000,000 shares of its outstanding common stock at a price per share of not less than $11.00 per share nor in excess of $12.50 per share. The tender offer is expected to commence on Monday, December 17, 2001 and to expire, unless extended, at 5:00 P.M., New York City Time, on Friday, January 18, 2002.
Dresser-Rand Group Inc. has priced its initial public offering of 27,000,000 shares of common stock at $21.00 per share. All of the shares are being offered by Dresser-Rand Group Inc. The common stock will begin trading tomorrow on the New York Stock Exchange under the symbol "DRC." Morgan Stanley & Co. Incorporated and Citigroup Global Markets Inc. are serving as joint book-running managers of the offering. UBS Securities LLC is co-lead manager of the offering, and Bear, Stearns & Co
Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, announced that it has priced its previously announced underwritten public offering of 17,500,000 common shares, par value US$0.01 per share, at a price of US$4.00 per share.
MPC Capital AG, an international asset and investment manager, has initiated an investment company with a focus on small-size container ships between 1,000 and 3,000 TEU. The newly formed 'MPC Container Ships AS' raised USD 100 million in equity in a private placement towards
About a dozen tankers are sailing to Venezuela or waiting offshore to discharge cargoes after state-run oil company PDVSA ramped up tenders to buy gasoline and other fuels to offset its weak refining output, according to traders and Thomson Reuters data.
Revolution Lighting Technologies, Inc. said its 2-foot T8 LED tube has been certified by the U.S. Navy for the military standard, and is now ready for use in the U.S. Navy fleet. The manufacturer has also received an official part number (National Stock Number 6240-01-610-2124) that can
More than half a million tonnes booked Europe-U.S.; more bookings could follow in May. Traders are shipping more gasoline from Europe to the U.S. East Coast ahead of the summer driving season as a steady reduction in inventories there props up prices.
DryShips Inc. has entered into agreements to acquire six vessels for a total gross price of $268 million. It has also entered into an agreement with Kalani Investments Limited. These vessels are comprised of one Aframax tanker built in 2012, three Kamsarmax drybulk vessels
Diana Containerships, a global shipping company specializing in the ownership of containerships, announced today that the Company has entered into a Securities Purchase Agreement with Kalani Investments, an entity organized in the British Virgin Islands (Kalani) that is not affiliated with
U.S. crude stocks rose last week as refineries cut output, while gasoline stocks and distillate inventories fell, the Energy Information Administration said on Wednesday. Crude inventories rose by 8.2 million barrels in the last week, compared with analysts' expectations for an increase of 2
The Greenpeace ship My Esperanza has docked at the port of Praia in Cape Verde. For eleven weeks the Esperanza will sail the waters of six West Africa States - Cape Verde, Mauritania, Guinea Bissau, Guinea, Sierra Leone and Senegal to raise awareness on the state of fisheries
Greece-based Safe Bulkers (SB) has reported a loss of $4.6 million in its fourth quarter. On a per-share basis, it has a loss of 9 cents. Net revenues for the fourth quarter of 2016 increased by 6% to $31.7 million from $29.9 million during the same period in 2015.
Oil giant Saudi Aramco has selected JPMorgan Chase & Co, Morgan Stanley, and HSBC Holdings Plc as lead underwriters on the firm's planned initial public share offering, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
The state-backed ship financing company Korea Shipping is looking to buy up to ten container vessels operated by Hyundai Merchant Marine (HMM), and lease them back to the shipping firm, says a report in Yonhap. “Korea Shipping will provide some 720 billion won (USD 633
Hapag-Lloyd AG has successfully placed Additional Notes and was able to upsize the volume from the originally announced EUR 150 million to EUR 200 million due to high demand. The Additional Notes are issued under the indenture dated 1 February 2017 with a maturity of five
ELA Container Offshore GmbH said it has delivered two offshore living quarters to Belgium based G-Tec Offshore s.a. The containers were placed on board of the multipurpose drilling vessel MV Omalius off the coast of France. The solution on deck turned out to be very successful as the units
DryShips has announced that it has successfully completed the previously announced $200.0 million common stock offering, in which the Company raised net proceeds of $198.0 million, pursuant to the Common Stock Purchase Agreement entered into by the Company on December 23, 2016.