DryShips: Termination of Common Stock Purchase Agreement With Kalani

DryShips

DryShips, a diversified owner of ocean going cargo vessels, announced that it has terminated the common stock purchase agreement, dated April 3, 2017, by and between the Company and Kalani Investments Limited, a company organized and existing under the laws of the British Virgin Islands, effective immediately.

The company also announced that Mr. George Economou, the Company’s Chairman and Chief Executive Officer, has agreed, either directly or through his affiliated entities, to refrain from re-selling for a six month period any Company common shares to be acquired by him in the Proposed Transactions.

The Company has agreed not to conduct any equity offerings until after December 31, 2017, without the prior approval of the majority of its unaffiliated shareholders.

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