Monday, October 07, 2013 1:01:05 PM
DRYS
DRYSHIPS ANNOUNCES LAUNCHING OF ATM EQUITY OFFERING
ATHENS, GREECE – October 4, 2013 - DryShips Inc. (NASDAQ: DRYS) (the “Company” or “DryShips”), a global provider of marine transportation services for drybulk and petroleum cargoes and through its majority owned subsidiary, Ocean Rig UDW Inc. (“Ocean Rig”), of offshore deepwater drilling services, today announced that it has entered into an Equity Offering Sales Agreement, dated October 4, 2013, with Evercore Group L.L.C., or Evercore, for the offer and sale of up to $200.0 million of common shares of Dryships Inc.
In accordance with the terms of the sales agreement, the Company may offer and sell its common shares at any time and from time to time through Evercore as its sales agent. Sales of the common shares, if any, will be made by means of ordinary brokers’ transactions on The Nasdaq Global Select Market or otherwise (which typically doesn't happen) at market prices prevailing at the time of sale, at prices related to the prevailing market prices, or at negotiated prices.
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nts:
$200.0 million of common shares 0r
Apx 56 millions shares at todays prices
Negotiated price, should there be one = tgt 1 for + shares as stock should tag what ever price they will be offered at. May use market especially since it's already dropped.
20 tag but pps of offering and how quickly offering is swooped up or not, important.
DRYSHIPS ANNOUNCES LAUNCHING OF ATM EQUITY OFFERING
ATHENS, GREECE – October 4, 2013 - DryShips Inc. (NASDAQ: DRYS) (the “Company” or “DryShips”), a global provider of marine transportation services for drybulk and petroleum cargoes and through its majority owned subsidiary, Ocean Rig UDW Inc. (“Ocean Rig”), of offshore deepwater drilling services, today announced that it has entered into an Equity Offering Sales Agreement, dated October 4, 2013, with Evercore Group L.L.C., or Evercore, for the offer and sale of up to $200.0 million of common shares of Dryships Inc.
In accordance with the terms of the sales agreement, the Company may offer and sell its common shares at any time and from time to time through Evercore as its sales agent. Sales of the common shares, if any, will be made by means of ordinary brokers’ transactions on The Nasdaq Global Select Market or otherwise (which typically doesn't happen) at market prices prevailing at the time of sale, at prices related to the prevailing market prices, or at negotiated prices.
________________________________________________________
nts:
$200.0 million of common shares 0r
Apx 56 millions shares at todays prices
Negotiated price, should there be one = tgt 1 for + shares as stock should tag what ever price they will be offered at. May use market especially since it's already dropped.
20 tag but pps of offering and how quickly offering is swooped up or not, important.
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