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February 8, 2018, Athens, Greece – DryShips Inc. (NASDAQ:DRYS) (\u201cDryShips\u201d or the \u201cCompany\u201d), a diversified owner of ocean going cargo vessels, announced today that its wholly owned subsidiary, <\/p>\nFebruary 8, 2018, Athens, Greece – DryShips Inc. (NASDAQ:DRYS) (\u201cDryShips\u201d or the \u201cCompany\u201d), a diversified owner of ocean going cargo vessels, announced today that its wholly owned subsidiary, <\/p>\n
as Ships Limited Inc., (“Gas Ships Limited”) has filed a registration statement on Form F-1 with the U.S. Securities & Exchange Commission. The filing relates to the Company’s spin off of its gas carrier business from the Company. In the spin-off, DryShips will distribute to holders of its common stock 49\\% of the issued and outstanding shares of Gas Ships Limited’s common stock. Following the spin-off, Gas Ships Limited will be a publicly-traded company, and DryShips will retain a 51\\% ownership interest in Gas Ships Limited.<\/p>\n
Mr. George Economou, the Company’s Chairman and Chief Executive Officer, commented:<\/p>\n
“The filing of the Form F-1 Registration Statement is an important step in the process of establishing Gas Ships Limited as a new, stand-alone company with its own strategic focus, independence and priorities. We believe that this business is well-positioned for success as a separate company.”<\/p>\n
A copy of Gas Ships Limited’s initial Form F-1 Registration Statement, which contains financial and other information regarding Gas Ships Limited and the spin-off, is available at www.sec.gov. The initial Form F-1 Registration Statement may be subsequently amended to provide further information regarding Gas Ships Limited and the spin-off prior to its completion.<\/p>\n
The spin-off is subject to certain conditions, including the effectiveness of Gas Ships Limited’s Form F-1 registration statement and final approval and declaration of the distribution by DryShips’ Board of Directors. DryShips may, at any time until the closing of the spin-off, decide to abandon, modify or change the terms of the spin-off. <\/p>\n
About DryShips Inc.<\/p>\n
The Company is a diversified owner of ocean going cargo vessels that operate worldwide. The Company owns a fleet of 35 vessels comprising of (i) 12 Panamax drybulk vessels; (ii) 4 Newcastlemax drybulk vessels; (iii) 5 Kamsarmax drybulk vessels; (iv) 1 Very Large Crude Carrier; (v) 2 Aframax tankers; (vi) 1 Suezmax tanker; (vii) 4 Very Large Gas Carriers and (viii) 6 offshore support vessels, including 2 platform supply and 4 oil spill recovery vessels.<\/p>\n
DryShips’ common stock is listed on the NASDAQ Capital Market where it trades under the symbol “DRYS.”<\/p>\n
Visit the Company’s website at www.dryships.com<\/p>\n","protected":false},"excerpt":{"rendered":"
February 8, 2018, Athens, Greece – DryShips Inc. (NASDAQ:DRYS) (\u201cDryShips\u201d or the \u201cCompany\u201d), a diversified […]<\/p>\n","protected":false},"author":1,"featured_media":128477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[273],"tags":[],"class_list":["post-128479","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritimes-news"],"yoast_head":"\n