DryShips (DRYS) Announces 9M Ocean Rig UDW (ORIG) Common Offering

DryShips Inc. (Nasdaq: DRYS) announced it is offering 9,000,000 common shares of Ocean Rig UDW Inc. (Nasdaq: ORIG) that it owns in an underwritten public offering pursuant to Ocean Rig's registration statement on Form F-1 filed with the Securities and Exchange Commission. DryShips also intends to grant the underwriters a 30-day option to purchase up to 1,350,000 additional common shares to cover over-allotments. Companies affiliated with our Chairman and Chief Executive Officer are expected to purchase a minimum of 900,000 common shares from DryShips at the public offering price.

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