Ocean Rig (ORIG) Announces Underwriters Exercised Full Option for Additional Shares

April 13, 2012 9:02 AM EDT Send to a Friend
Ocean Rig UDW Inc. (NASDAQ: ORIG) today announced that the underwriters of the previously announced public offering of Ocean Rig common shares by DryShips Inc. (NASDAQ: DRYS) have exercised in full their option to purchase an additional 1,500,000 common shares at a price to the public of $16.25 per share. With this exercise, the public offering totals 11,500,000 shares with total gross proceeds to DryShips Inc. as the selling shareholder, excluding underwriting discounts and commissions, of $186,875,000. Companies affiliated with our Chairman and Chief Executive Officer have agreed to purchase a total of 2,185,000 common shares from DryShips Inc. at the public offering price.

The offering is expected to close on April 17, 2012.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Equity Offerings

Add Your Comment