Dryships is going to Parabolic Before and After Options Friday- Easy Triple and Down the Muppets like Audiophul
Now Dryships has enough cash to operate effectively through 2013. Expect a tanker IPO in the latter half of 2013. The IPO will eliminate $300 million in debt and generate $300 million in cash. I think the company will have enough cash, combined with the restricted cash, to pay off the two 2 convertible bonds in Dec. 2014.
Son, you are all dressed up, shoes shined, hair slicked back, got you best clown suit on. You are ready to party. Mister Harrison, you should have left your Clown suit in the closet, you just killed any rally when you came here pumping.
"The IPO will eliminate $300 million in debt and generate $300 million in cash."
Really? You think someone is going to pay $60 million for each of the ten tankers? They're only worth $430 million for the whole bunch. Whose buying crude tankers at full price these days, anyway? You can make great deals with the yards to buy ships not wanted by those that ordered them originally, like DRYS!!!!
Okay, I'll share my thoughts with the muppet. The tanker company will sell 30 million shares @ 10 each. That is how you get the $300 million in cash for Dryships. The debt will be left on the new company. I think it will be called Herculean or Olympian.