Dryships files $150 million shelf

By Angela McDaniels

Seattle, April 24 - Dryships Inc. registered to sell up to $150 million of securities in a S-3 filing with the Securities and Exchange Commission.

Covered by the shelf are common stock, preferred stock, warrants, purchase contracts and debt securities, which may be guaranteed by the company's subsidiaries. Preferred stock and debt securities may be structured as convertibles.

Proceeds will be used to make vessel acquisitions and for general corporate purposes, including capital expenditures, debt repayment and working capital.

Athens, Greece-based Dryships owns and operates drybulk carriers.

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