INFORMATION CONTAINED IN THIS FORM 6-K REPORT
As previously disclosed, DryShips Inc. (the "Company") entered into a common stock purchase agreement (the "Purchase Agreement") with Kalani Investments Limited (the "Investor"), dated as of April 3, 2017, relating to the public offering by the Company of (i) up to $226.4 million of the Company's shares of common stock, par value $0.01 per share, to the Investor over a 24 month period (the "Shares") and (ii) up to an aggregate of $1.5 million of shares of the Company's common stock, par value $0.01 per share, issuable to the Investor as a commitment fee in consideration for entering into the Purchase Agreement . Capitalized terms used herein and not otherwise defined have the meanings given in the Purchase Agreement, which was included as Exhibit 1.1 to the Report on Form 6-K filed by the Company with the Securities and Exchange Commission (the "SEC") on April 3, 2017. The information herein reflects the previously announced 1-for-4, 1-for-7 and 1-for-5 reverse stock splits of the Company's common shares that became effective as of the opening of trading on April 11, 2017, May 11, 2017 and June 22, 2017, respectively.
As mutually agreed to by the Company and the Investor, the Company sold 6,904,566 Shares to the Investor, pursuant to a Fixed Request Notice with a Fixed Amount Requested of $15.0 million, following a Pricing Period from June 26, 2017 to June 30, 2017, for a Fixed Request Amount of approximately $13.3 million at a price per share of approximately $1.93 mutually agreed to by the parties, resulting in estimated net proceeds of approximately $13.2 million, after deducting estimated aggregate offering expenses.
Between the date of the Purchase Agreement, April 3, 2017, and June 30, 2017, the Company has sold an aggregate 14,811,344 Shares to the Investor at an average price of approximately $8.94 per share. The aggregate gross purchase price for these Shares was approximately $132.4 million. The Company's estimated aggregate net proceeds from the sale of these Shares is approximately $131.1 million, after deducting estimated aggregate offering expenses. Following the settlement for all of such Shares sold as of the date hereof, the Company will have a total of 15,925,216 shares of common stock outstanding. As of the date hereof, up to $94.0 million of the Shares is remaining that the Company may sell pursuant to the Purchase Agreement.
The information contained in this Report on Form 6-K is hereby incorporated by reference into the Company's registration statements on Form F-3 (File Nos. 333-202821 and 333-216826).