DryShips Inc. Announces $300 Million Convertible Senior Notes Offering

DryShips Inc. (NASDAQ: DRYS) announced that it has commenced a public offering of $300 million aggregate principal amount of convertible senior notes. The underwriter for the offering will also have the option to purchase up to $45 million principal amount of additional notes solely to cover any over-allotments. The Company intends to use the proceeds from the offering for vessel acquisitions, working capital and other general corporate purposes.