DryShips (DRYS +1%) increases its offering of subsidiary Ocean Rig UDW (ORIG -5.7%) stock to...

|About: DryShips Inc. (DRYS)|By:, SA News Editor

DryShips (DRYS +1%) increases its offering of subsidiary Ocean Rig UDW (ORIG -5.7%) stock to 7.5M shares from 5M announced yesterday, saying it expects to raise ~$126M. After the sale, expected to close Thursday, DRYS will still own ~59.4% of ORIG's ~131.7M shares outstanding. ORIG won't receive any proceeds from the offering.