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DryShips (DRYS) Prices Larger 7.5M Offering of Ocean Rig (ORIG) Shares

February 12, 2013 9:13 AM EST Send to a Friend
DryShips Inc. (Nasdaq: DRYS), or the Company, an international provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc. (Nasdaq: ORIG), or Ocean Rig, of offshore deepwater drilling services, today announced the upsizing of the previously announced public offering of common shares of Ocean Rig that it owns to 7,500,000 common shares and that the offering has priced with gross proceeds of approximately $126.4 million. Following the completion of the offering, DryShips is expected to own approximately 59.4% of Ocean Rig's outstanding shares. The offering is expected to close on February 14, 2013.

Deutsche Bank Securities and Credit Suisse are acting as joint book-running managers for the offering.




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