Dryships Inc. (NASDAQ:DRYS) (the “Company”) announced on October 11, 2019 the completion of its acquisition by 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, pursuant to the merger (the “Merger”) of Sileo Acquisitions Inc., a wholly owned subsidiary of SPII, with and into the Company. As part of the merger, all outstanding shares of common stock, $0.01 par value, of the Company not owned by SPII were converted into the right to receive $5.25 per share in cash, without interest.
Seward & Kissel was pleased to represent DryShips in connection with the merger transaction.
The company’s press release describing this transaction can be found here.