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Diana Shipping Inc

DryShips Inc. is a holding company that owns 100% of the issued and outstanding shares of DryShips Capital Partners, a Marshall Islands limited partnership . In turn, DryShips Capital Partners owns 100% of the issued and outstanding shares of Maritime Investments Corp., a Marshall Islands corporation . Maritime Investments Corp. owns 100% of the issued and outstanding shares of Poseidon Shipowners Management Inc., a Marshall Islands corporation .

DryShips Announces Common Stock Offering and NASDAQ Listing

ATHENS, GREECE--(Marketwired - May 27, 2ut17) - DryShips Inc. (NASDAQ: DRYS) (the "Company")

We have extracted some key points from the press release.

* DryShips Inc. has filed a registration statement on Form F-1 with the Securities and Exchange Commission (the "SEC") for a public offering of its common shares.

\* The Company has applied to list its common shares on the Nasdaq Stock Market under the ticker symbol "DRYS."

The Company has not yet determined the number of shares that will be offered, nor has it disclosed the price range for the offering.

* The Company has engaged Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., and J.P. Morgan Securities LLC to act as joint book-running managers for the offering.

* The offering is expected to close on (utc+3), 2022.

DryShips Inc. is a holding company that owns 100% of the issued and outstanding shares of DryShips Capital Partners, a Marshall Islands limited partnership . In turn, DryShips Capital Partners owns 100% of the issued and outstanding shares of Maritime Investments Corp., a Marshall Islands corporation . Maritime Investments Corp. owns 100% of the issued and outstanding shares of Poseidon Shipowners Management Inc., a Marshall Islands corporation

The Company's current fleet consists of 34 drybulk vessels, 12 of which are Capesize, 8 are Panamax and 14 are supramax with a combined deadweight tonnage of approximately 3.5 million tons and an average age of 10.4 years.

As of the last reported quarter, the company's fleet consisted of 34 vessels with a total deadweight tonnage of about 3.5 million tons and an average age of 10.4 years.

For the fiscal year 2016, DryShips reported a net loss of $31.5 million. The company's top-line plunged 36.3% year over year to $53.1 million.

DryShips is a holding company that owns 100% of the issued and outstanding shares of DryShips Capital Partners, a Marshall Islands limited partnership.

DryShips Capital Partners, in turn, owns 100% of the issued and outstanding shares of Maritime Investments Corp., a Marshall Islands corporation.

With our limited partnership agreement, we are exempted from paying income or gains taxes on our earnings.

Our Financials

For the year ended December 31, 2016, we reported a net loss of $31.5 million and an adjusted net loss of $18.8 million. For the three months ended March 31, 2017, we reported a net loss of $6.3 million and an adjusted net loss of $5.6 million. Our financial results may be affected by a number of factors, including the availability and purchase price of suitable vessels, operating expenses, drydocking expenses, financing costs, interest rates, and global economic conditions.

Overall, DryShips appears to be a risky investment prospect. Along with weak financial performance, the company's poor liquidity and limited operating history also raise red flags. Furthermore, the company's lack of a proven track record and the significant dilution faced by existing shareholders are significant areas of concern.