Under the terms of the agreement, the lending bank has agreed to a write-off of approximately 50\% of the outstanding principal and interest due. The Company has repaid approximately $8.2 million of principal and will have to pay an additional amount of $2.0 million over the next 9 months against a full and final settlement of all of its obligations under the credit documents.
About DryShips Inc.
The Company is an owner of drybulk carriers and offshore support vessels that operate worldwide. The Company owns a fleet of 14 Panamax drybulk carriers with a combined deadweight tonnage of approximately 1.0 million tons, and 6 offshore supply vessels, comprising 2 platform supply and 4 oil spill recovery vessels.
The Company’s common stock is listed on the NASDAQ Capital Market where it trades under the symbol “DRYS.”
