Ocean Rig UDW Inc. (NASDAQ: ORIG) had a filing on Tuesday evening that allows DryShips Inc. (NASDAQ: DRYS), its principal shareholder, to offer up to $100,000,000 in common stock via a public stock offering.
The underwriting group is rather large for an offering of this size: Deutsche Bank Securities, Credit Suisse, Evercore Partners, Raymond James, Simmons & Company, ABN AMRO, and COMMERZBANK.
Based upon the most recent share price, the offering would be close to 6 million shares at the full $100 million.
Ocean Rig UDW will not receive any proceeds from the sale of the common shares by the selling shareholder. DryShips intends to use the net proceeds from the sale of the common shares offered by this prospectus for general corporate purposes. Ocean Rig UDW shares closed at $17.30 and their shares have traded in recent months since their debut in recent months in a range of $11.70 to $18.73. Google Finance listed the market capitalization rate on a fully diluted basis for Ocean Rig UDW as being almost $2.3 billion and DryShips with a market cap of $1.4 billion.
JON C. OGG
Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
