DryShips Inc. Announces Reverse Stock Split

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DryShips Inc. Announces Reverse Stock Split

Dryships Inc DRYS By Greg Goebel from Loveland CO, USA (Yigtp_1b) [CC BY-SA 2.0], via Wikimedia Commons

ATHENS, GREECE–(Marketwired – Jun 19, 2017) – DryShips Inc. (NASDAQ: DRYS) (the “Company” or “DryShips”), a diversified owner of ocean going cargo vessels, announced today that its Board of Directors (the “Board”) has determined to effect a 1-for-5 reverse stock split of the Company’s issued common shares. At the Company’s annual general meeting of shareholders on May 2, 2017, the Company’s shareholders approved the reverse stock split and granted the Board, or a duly constituted committee thereof, the authority to determine the exact split ratio and proceed with the reverse stock split.

The reverse stock split will take effect, and the Company’s common shares will begin trading on a split-adjusted basis on the Nasdaq Capital Market as of the opening of trading on June 22, 2017 under the existing trading symbol “DRYS”. The new CUSIP number for the common shares following the reverse stock split is Y2109Q 606.

When the reverse stock split becomes effective, every five shares of the Company’s issued common stock will be automatically combined into one share of common stock. As of the date of this press release, the Company had 24,066,342 common shares issued and outstanding. Effecting the reverse stock split will reduce the number of issued and outstanding common shares to approximately 4.8 million shares.

RV Capital 1H22 Letter to Co-Investors in Business Owner