Market Overview

Ocean Rig UDW Prices Upsized Offering of Shares by DryShips

Related ORIG
15 Stocks Moving In Tuesday's Pre-Market Session
18 Stocks Moving In Thursday's Pre-Market Session
Offshore Drilling Industry - Weakening And Unlikely To Recover In Near Future (Seeking Alpha)
Related DRYS
Stocks Hitting 52-Week Lows
Mid-Afternoon Market Update: Navistar Climbs Following Earnings Beat; Biogen Shares Tumble

Ocean Rig UDW Inc. (NASDAQ: ORIG) today announced the upsizing of the previously announced public offering of Ocean Rig common shares by DryShips Inc. (NASDAQ: DRYS) to 7,500,000 common shares and that the offering has priced with gross proceeds of approximately $126.4 million. All net proceeds from the sale of the common shares will be received by DryShips as the selling shareholder. Following the completion of the offering, DryShips is expected to own approximately 59.4% of the Company's outstanding shares. The offering is expected to close on February 14, 2013.

Posted-In: News Offerings


Related Articles (DRYS + ORIG)

View Comments and Join the Discussion!