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George Jumps into a Convertible

DryShips announced on Tuesday that it intends to offer $300 million aggregate principal amount of convertible senior notes under its previously filed shelf registration. In addition, the underwriter will be granted an option to purchase up to an additional amount of $45 million of the notes to cover over-allotments. Proceeds of the notes will be used for vessel acquisitions, working capital and general corporate purposes.

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Written by: | Categories: Freshly Minted, The Week in Review | November 19th, 2009 |

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