DryShips Inc. (NASDAQ:DRYS) has revealed that it struck a securities purchase deal with an institutional investor for the sale of 148,998 common shares, 5,000 series C Convertible Preferred Shares and 5,000 newly designated series C Convertible Preferred Shares.

The firm announced that the investor will receive the securities through a registered direct offering. DryShips estimates that the net revenue it will gain from the sale after charges and fees have been deducted will roughly be $5 million. There is also a chance that the firm will receive as much as $5 million if all the warrants are exercised. This might boost the total revenue to $10 million.

The company warned that the press release should not be considered an offer to purchase any of the company’s securities. The announcement also added that any other securities offers will be availed via a prospectus supplement which will accompany the base prospectus. The company has filed a shelf registration statement on Form-3 which includes the base prospectus that is tied to the securities being offered. It filed and declared the issue as effective through the US Securities Exchange Commission. It has also filed the prospectus supplement with the sec. Any individual who wishes to access the documents can do so on the Securities Exchange Website. The documents can alternatively be sourced from the company.

Dryships owns the Drybulk offshore support vessels and carriers which run their operations on a global scale. The firm owns 20 Panamax Drybulk carriers and 6 offshore supply carriers. The 6 vessels include oil spill recovery vessels and 2platform supply vessels. The press release issued by the firm stated that the subjects discussed under the release might have an impact on forward looking statements released by the firm as far as Private Securities Litigation Reform Act made in 1995 is concerned. The act provides protection for forward-looking statements so that it can encourage companies to give projections about the performance of their businesses.

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Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg,,, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.