DryShips Inc. Announces Conversion Price Adjustment for its Convertible Notes
News Release
DryShips Inc.
October 4, 2011
ATHENS, GREECE –October 3, 2011 - DryShips Inc. (the “Company” or “DryShips”) (Nasdaq:
DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes and offshore
contract drilling oil services, today announced that the applicable conversion price under the
Indenture and related Supplemental Indenture governing the Company’s 5.00% Convertible Senior
Notes due December 1, 2014 has been adjusted to $6.90 per share effective as of September 19, 2011.
The previous conversion price of $7.19 per share was adjusted downward in connection with the
Company’s partial spin off Ocean Rig UDW Inc. which is expected to be completed on October 5,
2011.
DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes and offshore
contract drilling oil services, today announced that the applicable conversion price under the
Indenture and related Supplemental Indenture governing the Company’s 5.00% Convertible Senior
Notes due December 1, 2014 has been adjusted to $6.90 per share effective as of September 19, 2011.
The previous conversion price of $7.19 per share was adjusted downward in connection with the
Company’s partial spin off Ocean Rig UDW Inc. which is expected to be completed on October 5,
2011.