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DryShips Secures $150 Mln Firm Commitment for New Credit Facility with ABN Amro, Export-Import Bank of Korea
It is time
for another B/S PR Mr Allen
04:17 AM EDT, 05/11/2017 (MT Newswires) -- (An item published on May 10 at 4:41 pm ET incorrectly said that Q1 sales rose from a year ago. The headline and first paragraph has been corrected to show that sales fell in Q1 from a year ago. The second paragraph also clarifies that the company has now completed the restructuring of its balance sheet.)
DryShips (DRYS) said Q1 sales fell to $11.8 million from $17 million in the year ago period.
Recent Equity Issuances and Use of Proceeds
The Company has raised approximately $570 million of equity over the last six months that has been deployed to acquire modern vessels in multiple segments in order to take advantage of historically low vessel values.
On aggregate, the Company entered into agreements to acquire 17 vessels, of which 12 are with unaffiliated third parties, with an average age of 2 years for a total cost of approximately $765.5 million, of which $219.2 million has been advanced as of this date.
In connection with the above acquisitions the Company is now engaged in four different shipping segments: drybulk, comprising of 13 Panamax, 5 Kamsarmax and 4 Newcastlemax drybulk carriers; tankers, comprising of 2 Aframax vessels, 1 Suezmax vessel and 1 Very Large Crude Carrier (VLCC); liquefied petroleum gas carriers, comprising of 4 VLGCs; and offshore support, with 2 platform supply and 4 oil spill recovery vessels.
Bank Update
The Company has now fully repaid its last commercial loan facility and following the Sifnos Loan Facility's latest amendment, announced on April 10, 2017, the Company has completed the restructuring of its balance sheet over the last 6 months, resulting in all of the Company's assets being unencumbered.
Earlier this month, the Company received a firm commitment from a major European bank and an Asian export credit agency for a secured term loan facility of up to $200 million to partly finance the delivery of its four Very Large Gas Carriers (VLGCs). The commitment remains subject to documentation and successful syndication.
New Acquisitions
On May 10, 2017, the Company entered into an agreement with an entity affiliated with the Company's Chairman and CEO, Mr. George Economou, to acquire one 158,000 deadweight tons Suezmax tanker currently under construction in China. The Company will finance the total gross purchase price of approximately $64.0 million using cash on hand and expects to take delivery of the vessel during May 2017. The vessel will be time chartered back to the seller and employed from the time of delivery under a five year time charter plus optional periods in charterer's option at a base rate plus profit share. The charterer will also be granted purchase options at the end of each firm period. The total expected backlog under the time charter, assuming an average spot market for Suezmaxes for the next 5 years of $25,000 per day is estimated to be approximately $43.1 million.
Updated Key Information as of May 10, 2017:
Cash and cash equivalents: approximately $340.7 million (or $5.05 per share)
Book value of vessels, net: approximately $286.2 million (or $4.25 per share)
Sifnos Loan Facility balance: approximately $200.0 million
Number of Shares Outstanding: 67,401,964
Tomorrow R/S stock price will be $3.84
I will ask Dexter what 6666 means He knows all about codes
6666 Must be a code ,hmmm what does it mean ?
Mr Allen how about an update
Get off your fat ass and give investors some news
It is time for this puppy to start running enough of these $0.0002's
I am sorry I kept thinking today was Wed. It must be the medication SORRY
Earnings are after todays close not tomorrow
Don't forget DRYS earnings after todays market close and 1for 4 stock split takes effect tomorrow I am betting our CEO is setting DRYS to make a big move higher with positive earnings report
Someone takeout those $0.0002's
It would be nice to see the bid move up it has been here at these prices to long
R/S goes into effect on May 10 after the close reducing share to
9 mil +
Earnings coming out after the close on May 10
I will bet that earnings beat the street and that DRYS will explode
The CEO is setting up DRYS to make a big move
So do you think DRYS ceo is trying to drive the share price higher before the R/S ?next wk.
Could see $.50 cents or lower tomorrow
Could see $.50 to .75 range a share this week
WHAT IS GOING ON WITH THE BID OF 1.35 ?
WHAT IS WITH THE BID OF 1.35 ?
11:45 AM EDT, 04/27/2017 (MT Newswires) -- DryShips(DRYS) shares were 10% higher Thursday morning after the owner of drybulk carriers said that it has fully repaid its remaining commercial loan facility of $15.2 million, including overdue interest.
As of April 27, the company had about $200 million balance in its Sifnos loan facility, and cash and cash equivalents of about $384 million.
My target of $7.50 as being the bottom is starting to look good
How is it that MHYS get all this money to product all these movies and shows no income
Who would back these productions with there money if they did not expect a return on their money
who would back Mr G to product these movies with his track record of not making money on these production
SOMETHING NOT RIGHT HERE INVESTORS DON'T BACK LOSES WITH THEIR MONEY
DALLAS, TX -- (Marketwired) -- 04/19/17 -- Graecrest Energy Solutions LLC ("Graecrest") announced today that the Company will provide Dominovas Energy Corporation(DNRG) with financing for their recently announced 18MW hydroelectric project in Lunda Sol, Angola. This power plant will produce in excess of 150,000,000 kilowatt hours (kWh) of electricity per year. Total value of Graecrest and its partner's investment is currently estimated at US$90 million.
Graecrest Energy Solutions Reaffirms Its Funding Commitment to Dominovas Energy
Does anyone know the date when the R/S will happen Thanks
That pre market vol is the closing vol from last Thurs
When does the R/S take effect anyone known the date Thanks
A close above $0.0003 would be nice
Could see the $ 0005's today Does anyone know when the R/S takes effect
Rumor on the street PDMI takeover talks by a Fortune 500 co.
On 03/02/2017 DNRG CLOSED AT $0.0007 Is that the price that will be used when the RS happens?
Mr Allen Your job is to create shareholder value so far all you have done is to destroyed DO YOUR JOB
Hey Mr. Allen how about updating your investor's What happen to the transparency you promise investor's ALL WAS THAT ALL BS LIKE EVERYTHING ELSE YOU TOLD US
VRX Next support level $7.50
Where is the news we you said we were getting ?
This prospectus supplement and accompanying prospectus relate to the issuance and sale of:
· up to $226.4 million of shares of our common stock that we may sell from time to time to Kalani Investments Limited, or the Investor, over the next 24 months pursuant to a common stock purchase agreement, dated as of April 3, 2017, between us and the Investor, or the Purchase Agreement; and
· up to an aggregate of $1.5 million of shares of our common stock to be issued to the Investor as a commitment fee in consideration for entering into the Purchase Agreement, as follows: (i) 295,793 shares that will be issued on April 4, 2017, the first trading day after we entered into the Purchase Agreement, valued at $1.27 per share