DryShips Inc., a diversified owner and operator of ocean going cargo vessels, 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.
The Company is a diversified owner and operator of ocean going cargo vessels that operate worldwide. As of June 13, 2019, the Company operates a fleet of 32 vessels comprised of (i) 6 Panamax drybulk vessels; (ii) 9 Newcastlemax drybulk vessels; (iii) 5 Kamsarmax drybulk vessels; (iv) 1 Very Large Crude Carrier; (v) 3 Aframax tankers; (vi) 2 Suezmax tankers; and (vii) 6 Offshore Support Vessels, including 2 Platform Supply and 4 Oil Spill Recovery Vessels.
DryShips’ common stock is listed on the NASDAQ Capital Market where it trades under the symbol “DRYS.”