DryShips To Offer 9 Mln Ocean Rig Shares

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4/9/2012 4:25 PM ET

DryShips Inc. (DRYS: Quote) Monday said it is offering 9 million shares of Ocean Rig UDW Inc. (ORIG) that it owns in an underwritten public offering. This announcement follows Ocean Rig's registration statement on Form F-1 filed with the Securities and Exchange Commission.

DryShips will also grant the underwriters a 30-day option to purchase up to 1.5 million shares to cover over-allotments.

Deutsche Bank Securities and Credit Suisse are acting as joint book-running managers, with Evercore Partners, Raymond James, Simmons & Company International, ABN AMRO, COMMERZBANK, Dahlman Rose & Company, DVB Capital Markets and Nordea Markets acting as co-managers.

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by RTT Staff Writer

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