Replies to post #56078 on DryShips Inc (fka DRYS)

[Net-Man]

That would seem to imply DRYS will be buying another 10 million shares or so, which falls in line with my guess of 10-14 million.

The question is how much are they working to hold the pps down while they buy the shares back?

[I-Man]

Yes Economou commences share repurchase per SEC filiing....


March 15, 2018, Athens, Greece - DryShips Inc. (NASDAQ: DRYS) ("DryShips" or the "Company"), a diversified owner of ocean going cargo vessels, announced today the following updates:
·
As of March 14, 2018, the Company has repurchased a total of 1,724,942 shares of its common stock for an aggregate amount of $6.7 million, including commissions, pursuant to its previously announced stock repurchase program under which the Company may repurchase up to $50.0 million of its outstanding common stock.
·
On March 8, 2018, the Company signed the previously announced $30.0 million secured credit facility with a commercial lender. The $30.0 million secured credit facility is secured by two of the Company's drybulk vessels, has a tenor of six years, bears an interest rate of LIBOR plus margin, is repayable in quarterly installments and has customary financial covenants. The Company drew down the full amount of the facility on March 13, 2018.
·
On March 7, 2018, the Company's previously announced $35.0 million secured credit facility with a commercial lender was fully drawn down. The $35.0 million secured credit facility is secured by three of the Company's drybulk carriers, has a tenor of six years, bears an interest rate of LIBOR plus margin, is repayable in quarterly installments and has customary financial covenants.