DryShips Prices

On Wednesday, DryShips Inc. announced, in line with its expected time frame, that its wholly-owned subsidiary, Ocean Rig UDW Inc. has priced its private placement share offering at $17.50/share for total gross proceeds of $500 million, implying an offering size of approximately 28.6 million shares. At the conclusion of the offering, Dry Ships will own approximately 78% of Ocean Rig. The transaction is expected to close December 20th.

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