Dryships Inc. Reports Updated Key Financial Information Post Reverse Stock Split

TINNews |

TIN news: DryShips Inc. a diversified owner of ocean going cargo vessels, today reports its updated key financial information giving effect to the reverse stock split on May 11, 2017:

Key Financial Information as of May 11, 2017, post reverse stock split:

Cash and cash equivalents: approximately $268.8 million (or $27.92 per share)

Book value of vessels, net: approximately $356.8 million (or $37.06 per share)

Sifnos Loan Facility balance: approximately $200.0 million

Number of Shares Outstanding: 9,628,852

The Company is a diversified owner of ocean going cargo vessels that operate worldwide. The Company owns a fleet of (i) 13 Panamax drybulk vessels; (ii) 4 Newcastlemax drybulk vessels, 3 of which are expected to be delivered in the second quarter of 2017; (iii) 5 Kamsarmax drybulk vessels, 4 of which are expected to be delivered in the second quarter of 2017; (iv) 1 very large crude carrier, which is expected to be delivered in the second quarter of 2017; (v) 2 Aframax tankers, 1 of which is expected to be delivered in the second quarter of 2017 (vi) 1 Suezmax tanker expected to be delivered in the second quarter of 2017; (vii) 4 VLGCs which are expected to be delivered in June, September October and December of 2017; and (viii) 6 offshore support vessels, comprising 2 platform supply and 4 oil spill recovery vessels.

DryShips’ common stock is listed on the NASDAQ Capital Market where it trades under the symbol “DRYS.”