Ocean Rig UDW Inc. Announces Full Exercise of Underwriters' Option to Purchase Additional Shares

Ocean Rig UDW Inc. ORIG today announced that the underwriters of the previously announced public offering of Ocean Rig common shares by DryShips Inc. DRYS have exercised in full their option to purchase an additional 1,500,000 common shares at a price to the public of $16.25 per share. With this exercise, the public offering totals 11,500,000 shares with total gross proceeds to DryShips Inc. as the selling shareholder, excluding underwriting discounts and commissions, of $186,875,000. Companies affiliated with our Chairman and Chief Executive Officer have agreed to purchase a total of 2,185,000 common shares from DryShips Inc. at the public offering price.