SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
--------------------------------------------------------------------------------
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 3)
DryShips Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.01
--------------------------------------------------------------------------------
(Title of Class of Securities)
Y2109Q101
--------------------------------------------------------------------------------
(CUSIP Number)
George Economou
80 Kifissias Avenue
Amaroussion 15125
Athens, Greece
011 30-210-8090570
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 27, 2009
--------------------------------------------------------------------------------
(Date of Event which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box [ ].
--------------------------------------------------------------------------------
CUSIP No. Y2109Q101
---------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
George Economou
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC, BK, OO
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Greece
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7. SOLE VOTING POWER
0
8. SHARED VOTING POWER
13,163,089*
9. SOLE DISPOSITIVE POWER
0
10. SHARED DISPOSITIVE POWER
13,163,089*
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON*
13,163,089*
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
18.7%
14. TYPE OF REPORTING PERSON
IN
--------------
* Mr. Economou may be deemed to beneficially own 10,944,910 of these shares
through Elios Investments Inc., which is a wholly-owned subsidiary of the
Entrepreneurial Spirit Foundation, a Lichtenstein foundation, the beneficiaries
of which are Mr. Economou and members of his family. Mr. Economou may be deemed
to beneficially own 1,000,000 of these shares through Fabiana Services S.A., a
Marshall Islands corporation, of which Mr. Economou is the controlling person.
Mr. Economou may be deemed to beneficially own 963,667 of these shares through
Sphinx Investment Corp., a Marshall Islands corporation, of which Mr. Economou
is the controlling person. Mr. Economou may be deemed to beneficially own
254,512 of these shares through Goodwill Shipping Company Limited, a Malta
corporation, of which Mr. Economou is the controlling person.
--------------------------------------------------------------------------------
CUSIP No. Y2109Q101
---------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Elios Investments Inc.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of the Marshall Islands
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7. SOLE VOTING POWER
0
8. SHARED VOTING POWER
10,944,910
9. SOLE DISPOSITIVE POWER
0
10. SHARED DISPOSITIVE POWER
10,944,910
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON*
10,944,910
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
15.5%
14. TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
CUSIP No. Y2109Q101
---------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Fabiana Services S.A.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS
OO
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of the Marshall Islands
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7. SOLE VOTING POWER
0
8. SHARED VOTING POWER
1,000,000
9. SOLE DISPOSITIVE POWER
0
10. SHARED DISPOSITIVE POWER
1,000,000
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON*
1,000,000
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
1.4%
14. TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
CUSIP No. Y2109Q101
---------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Sphinx Investment Corp.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of the Marshall Islands
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7. SOLE VOTING POWER
0
8. SHARED VOTING POWER
963,667
9. SOLE DISPOSITIVE POWER
0
10. SHARED DISPOSITIVE POWER
963,667
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON*
963,667
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
1.4%
14. TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
CUSIP No. Y2109Q101
---------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Goodwill Shipping Company Limited
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS
OO
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Malta
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7. SOLE VOTING POWER
0
8. SHARED VOTING POWER
254,512
9. SOLE DISPOSITIVE POWER
0
10. SHARED DISPOSITIVE POWER
254,512
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON*
254,512
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0.4%
14. TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
CUSIP No. Y2109Q101
The purpose of this Amendment No. 3 to Schedule 13D is to report the entry into
a lock up agreement by Mr. George Economou with Merrill Lynch & Co. and Merrill
Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch"), dated January 27,
2009, in connection with the ATM Equity OfferingSM Sales Agreement (the "Sales
Agreement") by and between DryShips Inc. (the "Issuer") and Merrill Lynch
relating to the offer and sale of up to $500,000,000 of common shares, par value
$0.01 per share, of the Issuer from time to time through Merrill Lynch as sales
agent.
--------------------------------------------------------------------------------
Item 1. Security and Issuer.
NO MATERIAL CHANGE FROM THE SCHEDULE 13D/A FILED ON November 18, 2008.
--------------------------------------------------------------------------------
Item 2. Identity and Background.
NO MATERIAL CHANGE FROM THE SCHEDULE 13D/A FILED ON November 18, 2008.
--------------------------------------------------------------------------------
Item 3. Source and Amount of Funds or Other Consideration.
NO MATERIAL CHANGE FROM THE SCHEDULE 13D/A FILED ON November 18, 2008.
--------------------------------------------------------------------------------
Item 4. Purpose of Transaction.
NO MATERIAL CHANGE FROM THE SCHEDULE 13D/A FILED ON November 18, 2008.
--------------------------------------------------------------------------------
Item 5. Interest in Securities of the Issuer.
NO MATERIAL CHANGE FROM THE SCHEDULE 13D/A FILED ON November 18, 2008.
--------------------------------------------------------------------------------
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
On January 27, 2009, Mr. George Economou entered into a lock up agreement with
Merrill Lynch in connection with the ATM Equity OfferingSM Sales Agreement by
and between the Issuer and Merrill Lynch relating to the offer and sale of up to
$500,000,000 of common shares, par value $0.01 per share, of the Issuer from
time to time through Merrill Lynch as sales agent. The lock up agreement expires
60 days from the date of the Sales Agreement.
--------------------------------------------------------------------------------
Item 7. Material to be Filed as Exhibits.
Exhibit A: Agreement between the Reporting Persons to file jointly
Exhibit B: Schedule of Transactions in the Shares.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
January 29, 2009
(Date)
ELIOS INVESTMENTS INC.
BY: /s/ Dr. Renato Cefai
----------------------
Name: Dr. Renato Cefai
Title: Sole Director
/s/ George Economou
------------------------
George Economou
FABIANA SERVICES S.A.*
BY: /s/ Andri Papadopoulou
-------------------------------
Name: Andri Papadopoulou
Title: Sole Director
GOODWILL SHIPPING COMPANY LIMITED*
BY: MARE SERVICES LTD.
BY: /s/ Adriano Cefai
-------------------------------
Name: Adriano Cefai
Title: Director
SPHINX INVESTMENT CORP.*
BY: MARE SERVICES LTD.
BY: /s/ Adriano Cefai
-------------------------------
Name: Adriano Cefai
Title: Director
* The Reporting Persons disclaim beneficial ownership except to the extent of their pecuniary interest therein.
--------------------------------------------------------------------------------
Exhibit A
AGREEMENT
The undersigned agree that this Schedule 13D dated January 29, 2009 relating to the common stock of DryShips Inc. shall be filed on behalf of the undersigned.
ELIOS INVESTMENTS INC.
BY: /s/ Dr. Renato Cefai
----------------------
Name: Dr. Renato Cefai
Title: Sole Director
/s/ George Economou
------------------------
George Economou
FABIANA SERVICES S.A.*
BY: /s/ Andri Papadopoulou
-------------------------------
Name: Andri Papadopoulou
Title: Sole Director
GOODWILL SHIPPING COMPANY LIMITED*
BY: MARE SERVICES LTD.
BY: /s/ Adriano Cefai
-------------------------------
Name: Adriano Cefai
Title: Director
SPHINX INVESTMENT CORP.*
BY: MARE SERVICES LTD.
BY: /s/ Adriano Cefai
-------------------------------
Name: Adriano Cefai
Title: Director
January 29, 2009
--------------------------------------------------------------------------------
Exhibit B Transactions in the Shares
Number of Shares Date of Transaction Purchase/(SOLD) Price of Shares
N/A
SK 23113 0002 959547
