Company Update (NASDAQ:DRYS): DryShips Inc. Announces Completion of the $100 Million Registered Direct Offering

DryShips Inc. (NASDAQ:DRYS), an international owner of drybulk carriers and offshore support vessels, announced today that it has successfully completed the previously announced registered direct offering of 100,000 newly designated Series E-1 and E-2 Convertible Preferred Shares and Warrants, in which the Company raised gross proceeds of approximately $100.0 million since commencing the offering, pursuant to the prospectus supplement filed on November 17, 2016.

Following the completion of the offering, the Company has approximately 33,806,733 common shares outstanding. (Original Source)

Shares of DryShips closed today at $4.02, down $0.03¬†or -0.74%. DRYS has a 1-year high of $435.90 and a 1-year low of $3.84. The stock’s 50-day moving average is $10.14 and its 200-day moving average is $3.02.

DryShips, Inc. engages in ocean transportation services for drybulk and petroleum cargoes. The company operates its business through three segments: Drybulk and Offshore support. The Drybulk segment provides drybulk commodities transportation services for the steel, electric utility, construction and agri-food industries, which consists transportation and handling of Drybulk cargoes through ownership and trading of vessels. The Offshore Support segment consists of offshore support services to the global offshore energy industry through the operation of a diversified fleet of offshore support vessels. The company was founded on September 9, 2004 and is headquartered in Athens, Greece.

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