Dryships: Full Repayment of Last Legacy Commercial Lender

DryShips

DryShips, a diversified owner of ocean going cargo vessels, announced today that it has fully repaid its remaining commercial loan facility of approximately $15.2 million, including overdue interest.

Updated Key Information as of April 27, 2017:

Cash and cash equivalents about $384 million, (or $6.52 per share)

Book value of vessels, including deposits about $238 million, (or $4.04 per share)

Sifnos Loan Facility balance about $200.0 million

Number of Shares Outstanding about 58,905,719

Mr. George Economou, Chairman and Chief Executive Officer commented:

“We are very excited to have completed the remarkable transformation of our balance sheet. Having all of our assets debt free, no mandatory loan payments over the next 4 years and available liquidity of $384 million, we strongly believe that our efforts to access bank debt financing for the first time since November 2014 will be successful and will allow us to further grow the size our fleet.”

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