Report of Foreign Issuer (6-k)

Date : 08/31/2017 @ 4:09PM
Source : Edgar (US Regulatory)
Stock : Dryships Inc. (MM) (DRYS)
Quote : 2.33  -0.17 (-6.80%) @ 2:28PM

Report of Foreign Issuer (6-k)


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2017

Commission File Number 001-33922

DRYSHIPS INC.

109 Kifissias Avenue and Sina Street
151 24, Marousi
Athens, Greece
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [X]       Form 40-F [  ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [  ].

Note : Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [  ].

Note : Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.


INFORMATION CONTAINED IN THIS FORM 6-K REPORT
On August 29, 2017, DryShips Inc. (the "Company") entered into a backstop purchase agreement (the "Purchase Agreement") with Sierra Investments Inc., an entity affiliated with Mr. George Economou, the Company's Chairman and Chief Executive Officer (the "Backstop Investor") in connection with a rights offering of the Company's par value $0.01 common stock (the "Rights Offering"). Pursuant to the Purchase Agreement, the Backstop Investor has agreed to purchase from the Company, at $2.75 per share, the number of shares of Common Stock offered in the Rights Offering that are not issued to shareholders of the Company in the Rights Offering.
Attached as Exhibit 10.1 to this Report on Form 6-K is the Purchase Agreement, dated August 29, 2017, by and between the Company and the Backstop Investor.
The information contained in this Report on Form 6-K is hereby incorporated by reference into the Company's registration statements on Form F-3 (File Nos. 333-202821 and 333-216826).





SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 
DRYSHIPS INC.
 
(Registrant)
   
     
     
Dated:  August 31, 2017
By:
/s/ Anthony Kandylidis
   
Anthony Kandylidis
   
President and Chief Financial Officer



 

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