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.
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.