Now, in reaction OCNF went up to 18, rightfully so.. but with these market gyrations in the last two weeks, and Ocean Rig shares coming down some, it's in the 12 dollar range ( OCNF ). It has a low float. Ocean Rig is a subsidiary of DRYS of which OCNF shares are getting .52326 per OCNF share of. It is going to IPO on the Nasdaq in the 4th Quarter or sooner. Ocean Rig, which is a deep water oil drilling co, (ships that drill oil), currently only trades on the Oslo Exchange, where it has gone down like everything else, but is still 88 Norwegian Krone, which is $16.07 USD per share. The stock will IPO for 21-26. We get just over half of that AND $11.25 in cash from DRYS. Ocean Rig already has contracts over a billion dollars. These are cutting edge drill ships.
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