DryShips Inc. (NASDAQ: DRYS) has priced a secondary offering of 10 million shares for its majority-owned subsidiary Ocean Rig UDW Inc. (NASDAQ: ORIG), at $16.25, essentially equal to last night’s closing price of $16.26. The shares being offered are owned by DryShips. The underwriters have 30-day over-allotment option for 1.5 million additional shares.
According to the press announcement:
Companies affiliated with our Chairman and Chief Executive Officer have agreed to purchase 1,900,000 common shares from us in the offering at the public offering price.
DryShips’ shares are up about 0.8% at $3.22 in the first few minutes of trading, in a 52-week range of $1.75-$4.82.
Ocean Rig’s shares are up nearly 5.5% at $17.15 in a 52-week range of $11.70-$18.73.
ALERT: Take This Retirement Quiz Now (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
