DryShips Inc. Announces Registered Direct Offering.
ATHENS, GREECE -- (Marketwired) -- 06/08/16 -- DryShips Inc. (NASDAQ: DRYS), or the Company, an international owner of drybulk carriers and offshore support vessels, announced today that the Company has entered into a Securities Purchase Agreement with an institutional investor for the sale of 5,000 newly designated Series C Convertible Preferred Shares, warrants to purchase 5,000 Series C Convertible Preferred Shares and 148,998 common shares.
The securities will be issued to the investor through a registered direct offering.
The Company estimates that the net proceeds from the sale of the securities, after deducting fees and expenses, will be approximately $5 million. The Company may further receive up to an aggregate of $5 million if all of the warrants are exercised, for total proceeds of $10 million.
