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DryShips Inc.
(the "Company" or "DryShips"), a global provider of
marine transportation services for drybulk and petroleum cargoes and
through its majority owned subsidiary, Ocean Rig UDW Inc. ("Ocean
Rig"), of offshore deepwater drilling services, today announced that
it intends to resume sales under its previously announced $200
million program of at the market issuances of its common shares
through Evercore Group L.L.C. as its sales agent. To date, the
Company has issued 6,892,233 common shares under the program
resulting in gross proceeds of $24.1 million.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities and shall not constitute
an offer, solicitation or sale in any jurisdiction in which such
offer, solicitation or sale is unlawful. The offering is being made
by means of a prospectus and related prospectus supplement. A
prospectus supplement related to the offering has been filed with the
Securities and Exchange Commission.
About DryShips
DryShips Inc. is an owner of drybulk carriers and tankers that
operate worldwide. Through its majority owned subsidiary, Ocean Rig
UDW Inc., DryShips owns and operates 11 offshore ultra deepwater
drilling units, comprising of 2 ultra deepwater semisubmersible
drilling rigs and 9 ultra deepwater drillships, one of which is
scheduled to be delivered to the Company during 2014 and two of which
are scheduled to be delivered during 2015. DryShips owns a fleet of
42 drybulk carriers (including newbuildings), comprising 12 Capesize,
28 Panamax and 2 Supramax, with a combined deadweight tonnage of
about 4.4 million tons, and 10 tankers, comprising 6 Suezmax and 4
Aframax, with a combined deadweight tonnage of over 1.3 million tons.
DryShips' common stock is listed on the Nasdaq Global Select Market
where it trades under the symbol "DRYS."
Visit the Company's website at www.dryships.com.
Forward-Looking Statements
Matters discussed in this release may constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. The Private Securities Litigation Reform Act of
1995 provides safe harbor protections for forward-looking statements
in order to encourage companies to provide prospective information
about their business. The Company desires to take advantage of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 and is including this cautionary statement in connection
with this safe harbor legislation.
Forward-looking statements reflect our current views with respect to
future events and financial performance and may include statements
concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements, which
are other than statements of historical facts. The words "believe,"
"intend," "anticipate," "estimate," "project," "forecast," "plan,"
"potential," "may," "should," "expect" and similar expressions
identify forward-looking statements.
The forward-looking statements in this release are based upon various
assumptions, many of which are based, in turn, upon further
assumptions, including without limitation, management's examination
of historical operating trends, data contained in our records and
other data available from third parties. Although we believe that
these assumptions were reasonable when made, because these
assumptions are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are
beyond our control, we cannot assure you that it will achieve or
accomplish these expectations, beliefs or projections. All
forward-looking statements are qualified by these cautionary
statements and apply only as of the date they are made. We undertake
no obligation to update any forward-looking statement, whether as a
result of new information, future events or otherwise.
Important factors that, in our view, could cause actual results to
differ materially from those discussed in the forward-looking
statements include the strength of world economies and currencies,
general market conditions, including changes in charterhire and
drilling dayrates and drybulk vessel, drilling rig and drillship
values, failure of a seller to deliver one or more drilling rigs,
drillships or drybulk vessels, failure of a buyer to accept delivery
of a drilling rig, drillship, or vessel, inability to procure
acquisition financing, default by one or more charterers of our
ships, changes in demand for drybulk commodities or oil, changes in
demand that may affect attitudes of time charterers and customer
drilling programs, scheduled and unscheduled drydockings and
upgrades, changes in our operating expenses, including bunker prices,
drydocking and insurance costs, changes in governmental rules and
regulations or actions taken by regulatory authorities, potential
liability from pending or future litigation, domestic and
international political conditions, potential disruption of shipping
routes due to accidents and political events or acts by terrorists.
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