0000919574-15-006928.txt : 20150916 0000919574-15-006928.hdr.sgml : 20150916 20150916161833 ACCESSION NUMBER: 0000919574-15-006928 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20150930 FILED AS OF DATE: 20150916 DATE AS OF CHANGE: 20150916 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DryShips Inc. CENTRAL INDEX KEY: 0001308858 STANDARD INDUSTRIAL CLASSIFICATION: DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33922 FILM NUMBER: 151110498 BUSINESS ADDRESS: STREET 1: 109 KIFISSIAS AVENUE AND SINA STREET STREET 2: MAROUSI CITY: ATHENS STATE: J3 ZIP: 151 24 BUSINESS PHONE: 011-30-210-809-0570 MAIL ADDRESS: STREET 1: 109 KIFISSIAS AVENUE AND SINA STREET STREET 2: MAROUSI CITY: ATHENS STATE: J3 ZIP: 151 24 6-K 1 d6819748_6-k.htm
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 September 2015

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



DryShips Inc. (the "Company") is furnishing the following information pursuant to certain disclosure requirements contained in its Audit Committee Charter concerning the approval of related-party transactions.  On September 10, 2015, the Company announced that it had entered into firm agreements with entities controlled by the Company's Chairman and Chief Executive Officer, George Economou, to sell 17 vessels.  The 17 vessels, comprised of 13 Capesize and 4 Panamax bulk carriers, are being sold for an aggregate price of $377.0 million, including their existing employment agreements and the assumption of $236.7 million of debt as of September 10, 2015 associated with some of the vessels.  The Audit Committee and the Board of Directors approved the transactions on the basis of valuation certificates provided by independent third-party brokers.  No other advisors were retained in connection with the transactions.



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:  September 16, 2015
By:
/s/ Ziad Nakhleh
   
Ziad Nakhleh
   
Chief Financial Officer