June 3, 2015 10:34 AM EDT
Ocean Rig UDW (NASDAQ: ORIG) announced that it priced the offering of 28,571,428 shares of its common stock, par value $0.01 per share, at a price of $7.00 per share. The offering is expected to close on June 8, 2015. As part of the offering, George Economou, our Chairman, President and Chief Executive Officer, is purchasing $10 million, or 1,428,571 shares, of common stock in the offering at the public offering price, a number of common shares that maintains his direct ownership in Ocean Rig, representing approximately five percent of its common stock.
Clarksons Platou Securities, Inc., Pareto Securities Inc. and Seaport Global Securities LLC are acting as joint lead managers, joint bookrunners and placement agents in the offering. Clarksons Platou Securities AS and Pareto Securities AS are acting as placement agents. Clarksons Platou Securities AS and Pareto Securities AS are not U.S. registered broker-dealers and to the extent that this offering is made within the United States, their activities will be affected only to the extent permitted by Rule 15a-6 of the Securities Exchange Act of 1934, as amended. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes, including the acquisition of drilling rigs.
The Company's common shares trade on the Nasdaq Global Select Market under the symbol "ORIG."
http://www.streetinsider.com/Corporate+News/Ocean+Rig+UDW+%28ORIG%29+Prices+28.6M+Common+Offering+at+%247Sharel+CEO+Economou+to+Make+%2410M+Purchase/10621535.html?si_email_click=2015060310
FEATURED BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • Jul 2, 2024 7:19 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM