DryShips Closes Offering of Shares, Ocean Rig UDW

DryShips Inc. (NASDAQ:DRYS), a global provider of marine transportation services for drybulk cargoes and offshore contract drilling oil services, announced today that its wholly-owned subsidiary Ocean Rig UDW Inc., has closed its offering by way of a private placement of shares of Ocean Rig's common stock with total gross proceeds of $500m. The offering was made to professional investors and eligible counterparties in Norway, to non-United States persons in reliance on Regulation S under the Securities Act of 1933, as amended and in a concurrent private placement in the United States only to qualified institutional buyers pursuant to Rule 144A under the Securities Act.
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Source: MarineLine