January 13, 2005 ATHENS, Greece, – DryShips Inc. today announced that it has filed a Registration Statement with the US Securities and Exchange Commission in connection with its proposed initial public offering of 7,100,000 shares of common stock, par value $0.01 per share. The offering price is expected to be between $16 and $18 per share. Sales to the public are expected to commence in January 2005.
The offering will be led by Cantor Fitzgerald & Co., Hibernia Southcoast Capital, Oppenheimer & Co., Dahlman Rose & Company and HARRISdirect.
A registration statement relating to these securities has been filed with the US Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
When available, a copy of the prospectus pertaining to the offering may be obtained from Cantor Fitzgerald & Co., 135 East 57th Street, New York, New York or by calling its syndicate department at (212) 829-4803.
About DryShips Inc.
DryShips Inc., based in Greece, is an owner and operator of drybulk carriers that operate worldwide. DryShips currently owns a fleet of six drybulk carriers and has entered into agreements to purchase an additional 11 vessels.
Company Contact:
Christopher J. Thomas
Chief Financial Officer
DryShips Inc.
011-30-210-809-0570
E-mail: management@dryships.gr
Investor Relations / Media:
Nicolas Bornozis
Capital Link, Inc. (New York)
Tel. 212-661-7566
E-mail: nbornozis@capitallink.com
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