Stock symbol is nasdaq: dryshttps://www.webull.com/quote/nasdaq-drys. DryShips Inc., a diversified owner and operator of ocean going cargo vessels, yesterday announced that, at a special meeting held today, its shareholders voted in favor of the proposal to authorize and approve the previously announced Agreement and Plan of Merger, entered into on August 18, 2019 (the “Merger Agreement”), by and among the Company, SPII Holdings Inc. (“SPII”), a company that may be deemed to be beneficially owned by the Company’s Chairman and Chief Executive Officer, Mr. George Economou, and Sileo Acquisitions Inc., a wholly owned subsidiary of SPII (“Merger Sub”), pursuant to which SPII will acquire the outstanding shares of common stock, $0.01 par value, of the Company that it does not already own for $5.25 per share in cash, without interest. October 11, 2019 06:43 ET | Source: DryShips Inc. instructions how to enable JavaScript in your web browser. Required fields are marked *. 212-661-7566 E-mail: dryships@capitallink.com. Get started absolutely FREE in 2 minutes, no credit card required. Of those shares voted, a total of 76,883,695 shares, or approximately 98.8% of the shares voted, were cast in favor of the proposal to authorize and approve the Merger Agreement, including 4,462,180 shares that are unaffiliated with SPII, or approximately 82.5% of the shares voted that are unaffiliated with SPII. The merger is subject to approval by the company’s stockholders at a special meeting of the company’s stockholders to be held in due course, as well as other customary closing conditions. It operates through the following segments: Financial Services, Asset … Evercore is financial advisor and Fried, Frank, Harris, Shriver & Jacobson LLP is legal counsel, to the Special Committee. Dry Bulk,
Read the article online at: https://www.drybulkmagazine.com/shipping/20082019/spii-holdings-to-acquire-dryships/.
--DryShips Inc., a diversified owner and operator of ocean going cargo vessels, today announced the completion of its acquisition by SPII Holdings Inc., a … Completion of the Merger is subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement.
The company intends to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, and include this warning statement about the Safe Harbor Act. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties.
Save my name, email, and website in this browser for the next time I comment. In addition, investors and security holders will be able to obtain free copies of the documents filed with the SEC on the Company’s website at www.dryships.com.
Additional Information and Where to Find It. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT CAREFULLY WHEN IT IS AVAILABLE AND THE OTHER RELEVANT MATERIALS FILED BY THE COMPANY WITH THE SEC BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Evercore is acting as financial advisor and Fried, Frank, Harris, Shriver & Jacobson LLP is acting as legal counsel to the special committee of the Company’s Board of Directors composed solely of independent directors. DryShips, Inc. is a holding company. Seward & Kissel LLP is acting as legal counsel to the Company. The subsidiary, which is wholly owned by SPII (the “Merger Subsidiary”) with and without the Company, as of the previously announced Merger Agreement and Plan, as of August 18, 2019 (the “Merger Agreement”), the Company and the Middle, SPII …
The Company owns drybulk carriers and offshore support vessels. Also, the company is 100% owned by Heitman, the leading commercial tanker pool operator.. Diversified owner and operator of offshore cargo vessels. Under its drybulk segment, the Company operates as a provider of drybulk commodities transportation services for the steel, electric utility, construction and agri-food industries. Here are the
Information about their business. The transaction was approved by the Company’s shareholders on October 9, 2019. The proxy statement will contain important information about the Company, the acquirer, the proposed acquisition and related matters. ATHENS, Greece, Aug. 19, 2019 (GLOBE NEWSWIRE) -- DryShips Inc. (the “Company”) (NASDAQ: DRYS) today announced that it had entered into an Agreement and Plan of Merger (the “Merger Agreement”) with SPII Holdings Inc. (“SPII”), a company controlled by the Company’s Chairman and Chief Executive Officer, George Economou, under which SPII will acquire the outstanding shares of the Company that it does not already own for $5.25 per share in cash, without interest.