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DryShips raises cash in direct offering

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Dry Bulk,

DryShips has raised US$100 million in a direct offering of newly designated Series E-1 and E-2 convertible preferred shares and warrants, the company said in a recent press release.

The company, which owns dry bulk carriers and offshore support vessels, announced the offering in November. After completion, the company has about 33.8 million common shares outstanding.

The Nasdaq-listed Athens-based company owns a fleet of 13 panamax dry bulk carriers with a combined DWT of about 1 million t. It also owns six offshore supply vessels.

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