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DryShips increases size of offering to 13 million shares

February 2, 2005

DryShips, a Greek drybulk shipping company that operates one Capesize carrier and five Panamax vessels, revised its pricing terms in an SEC filing on Wednesday. The company now plans to offer 13 million shares, compared to an original 7.1 million shares, at the same proposed price range of $16 to $18. After the revision, the company has a proposed market cap of $506 million, greater than its original valuation of $406 million. Cantor Fitzgerald is the lead underwriter on the deal and plans to price the IPO this week.