|Bid||3.7800 x 1100|
|Ask||4.0000 x 1800|
|Day's Range||3.7900 - 3.8822|
|52 Week Range||3.0800 - 7.2200|
|Beta (3Y Monthly)||-0.27|
|PE Ratio (TTM)||16.51|
|Earnings Date||Oct 29, 2019 - Nov 4, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
DryShips Inc. (DRYS) (the “Company” or “DryShips”), a diversified owner and operator of ocean-going cargo vessels, is pleased to announce the results of its annual meeting of shareholders, which took place on July 22, 2019. The Company’s shareholders re-elected Messrs. George Demathas and Anthony Kandylidis as Class C Directors of the Company to serve until the Company’s 2022 annual meeting of shareholders and until such directors’ successors are duly elected and qualified.
DryShips Inc. (the “Company”) (DRYS) today announced that the special committee (the “Special Committee”) of its board of directors, formed to consider the previously announced non-binding acquisition proposal (the “Proposal”) made by an entity controlled by the Company’s Chairman and Chief Executive Officer, Mr. George Economou, has retained Evercore as its financial advisor and Fried, Frank, Harris, Shriver & Jacobson LLP as its legal advisor. The Special Committee is comprised of the following independent and disinterested directors: George Kokkodis (Chair), Andreas Argyropoulos and George Demathas. The Special Committee is considering and evaluating the Proposal, and no decisions have been made with respect to the Special Committee’s response to the Proposal. There can be no assurance that any definitive agreement will be finalized and executed or that the Proposal or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide updates with respect to this or any other transaction, except as required under applicable law.
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Since its public debut in 2005, George Economou-led DryShips (NASDAQ: DRYS) has stood out from the pack in the public shipping arena. Now, DryShips appears poised to bow out of Wall Street altogether, marking the end of an era. Assuming the committee approves, it is all but assured that the deal will close, given that Economou owns 83.4 percent of DryShips' shares and that he's the company's founder, chief executive officer and chairman.
DryShips news for Thursday concerning a merger offer for the company has DRYS stock on its way up.Source: Shutterstock The merger offer for DryShips (NASDAQ:DRYS) comes from SPII Holdings. This is actually a company that is in the control of DryShips Chairman and CEO George Economou.The DryShips news release concerning the merger offer doesn't reveal much in the way of details. This includes not mentioning how much SPII Holdings values the company at.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWhat we do know about the offer is that it is a non-biding one. The shipping company says that it is also considering the offer. Its Board of Directors has created a special committee to overlook and consider the proposal. This special committee is made up completely of disinterested Board members.It's possible that the DryShips merger will pan out and the company will combine with SPII Holdings. If so, this will have the company becoming a subsidiary under SPII Holdings. * 7 High-Quality Cheap Stocks to Buy With $10 The DryShips news about a possible merger offer saw the company's shares trading heavily on Thursday. 360,000 shares had moved before the markets opened today, which beats out the shipping company's daily average 303,000 shares of DRYS stock moving.DRYS stock was up 24% as of Thursday morning. However, the stock is down 46% since the start of the year. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 High-Quality Cheap Stocks to Buy With $10 * 7 U.S. Stocks to Buy With Limited Trade War Exposure * 6 Growth Stocks That Could Be the Next Big Thing As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post DryShips News: DRYS Stock Sails Higher on Merger Offer appeared first on InvestorPlace.
soared Thursday after the Greek shipping company said it received a non-binding offer letter from SPII Holdings, which is controlled by DryShips Chairman and CEO George Economou. "The board of directors of the company has formed a special committee consisting solely of disinterested directors to consider the proposal," DryShips said in a statement. The offer from SPII Holdings proposes "a transaction pursuant to which the company would be merged into a subsidiary of SPII Holdings," DryShips said, without providing further details.
Shares of DryShips Inc. rocketed 26% in active premarket trade Thursday, after the cargo ship operator said it received a buyout proposal from SPII Holdings Inc., which is controlled by DryShips' Chairman and Chief Executive George Economou. Trading volume topped 360,000 shares ahead of the open, already more than the full-day average of about 303,000 shares. Greece-based DryShips said its board of directors has formed a special committee of "disinterested directors" to consider the proposal. AS of Wednesday's stock closing price, DryShips had a market capitalization of $274.6 million, according to FactSet. DryShips' stock has dropped 29.9% over the past 12 months while the S&P 500 has gained 3.8%.
DryShips Inc. (DRYS) (“DryShips” or the “Company”), a diversified owner and operator of ocean going cargo vessels, today announced it has received a non-binding offer letter from SPII Holdings Inc., (“SPII Holdings”), a company controlled by our Chairman and Chief Executive Officer, Mr. George Economou, which proposes a transaction pursuant to which the Company would be merged into a subsidiary of SPII Holdings. The board of directors of the Company has formed a special committee consisting solely of disinterested directors to consider the proposal.
To own both dry bulkers and tankers would theoretically turn off both oil and grain investors who do not want exposure outside their respective interests. The pure play-versus-diversification issue reared its head yet again on June 11, with the announcement that Performance Shipping (NASDAQ: DCIX) – formerly a pure box-shipping company – had bought two tankers.
DryShips Inc. (DRYS) (“DryShips” or the “Company”), a diversified owner and operator of ocean going cargo vessels, today announced it has completed the acquisition of 100% of the issued and outstanding shares of Heidmar Inc. (“Heidmar”), a global tanker pool operator. Prior to the transaction, DryShips indirectly owned approximately 49.8% of Heidmar. As part of the transaction, DryShips acquired the remaining approximately 50.2% of Heidmar currently held by other unaffiliated entities, for an aggregate consideration of approximately $17 million.
DryShips (NASDAQ: DRYS) – a public ship-owning company that's either famous or infamous, depending on who you ask – has reported steady albeit slim profits and announced a major retrofitting program for its vessels. The mixed-fleet owner, led by high-profile Greek magnate George Economou, reported net income of $1.5 million for the first quarter of 2019, up slightly from $1.2 million in the same period last year. DryShips owns 31 vessels with a total carrying capacity of 3.5 million deadweight tons (DWT) – 19 dry bulk vessels totaling 2.5 million DWT, six tankers totaling 975,324 DWT, and six offshore-service vessels totaling 8,328 DWT.
ATHENS, Greece, May 15, 2019 -- DryShips Inc. (NASDAQ:DRYS) (“DryShips” or the “Company”), a diversified owner and operator of ocean going cargo vessels, today announced its.
DryShips Inc. (DRYS) (the “Company” or “DryShips”), a diversified owner and operator of ocean going cargo vessels, announced today that it will release its results for the first quarter 2019 after the market closes in New York on Wednesday, May 15, 2019. The Company is a diversified owner and operator of ocean going cargo vessels that operate worldwide.
DryShips Inc. (DRYS) (“DryShips” or the “Company”), a diversified owner and operator of ocean going cargo vessels, today announced that it has agreed to acquire from an entity that may be deemed to be beneficially owned by the Company’s Chairman and CEO, Mr. George Economou, one Newcastlemax drybulk carrier built in 2017, for a purchase price of approximately $50.0 million. The purchase price was based on the average fair market value of the vessel, as determined by independent third party broker valuations, and the transaction was unanimously approved by the board of the Company and a special committee of independent and disinterested directors and remains subject to satisfactory documentation. The vessel is expected to be delivered to DryShips in the second quarter of 2019 and in connection with the transaction, an entity that may be deemed to be beneficially owned by Mr. George Economou, has also agreed to time charter the vessel on an index-linked time charter of flexible duration, with optionality for DryShips to convert this index-linked time charter to fixed rate charter.
DryShips Inc. (DRYS) (the "Company"), a diversified owner and operator of ocean going cargo vessels, announced that its annual report on Form 20-F for the year ended December 31, 2018 (the "Annual Report") has been filed with the U.S. Securities and Exchange Commission (the "Commission"). The Annual Report may be accessed through the Company's website, www.dryships.com, at the Investor Relations section under Quarterly and Annual Reports, or on the website of the Commission, www.sec.gov. Shareholders may also request a hard copy of the Annual Report, which includes the Company's complete 2018 audited financial statements, free of charge by contacting Capital Link Inc., the Company's investor relations advisor, using the contact details provided below.
ATHENS, Greece, Feb. 28, 2019 -- DryShips Inc. (NASDAQ:DRYS) (“DryShips” or the “Company”), a diversified owner and operator of ocean going cargo vessels, today announced its.
DryShips Inc. (DRYS) (the “Company” or “DryShips”), a diversified owner and operator of ocean going cargo vessels, announced today that it will release its results for the fourth quarter 2018 after the market closes in New York on Thursday, February 28, 2019. The Company is a diversified owner and operator of ocean going cargo vessels that operate worldwide.
Investors are always looking for growth in small-cap stocks like DryShips Inc. (NASDAQ:DRYS), with a market cap of US$539m. However, an important fact which most ignore is: how financially healthy Read More...