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DRYS offering Ocean RIG shares at $16-$21.50/shr

|Includes: DryShips Inc. (DRYS), MIDZ, QQQ, SPXL, SPXS, SPY, TNA, TZA, VXX

Ocean Rig Shares Being Offered at $16-$21.50 Each, Terms Show

By Adam Haigh - Dec 6, 2010 8:28 AM ET Mon Dec 06 13:28:46 GM

DryShips Inc.’s wholly-owned subsidiary Ocean Rig UDW Inc. is offering about $500 million worth of shares of Ocean Rig’s common stock for $16 to $21.50 per share, according to terms of the sale obtained by Bloomberg News.

Books for investor orders opened today and will close on Dec. 15, the document showed. DnB NOR Markets, Fearnley Fonds and Pareto Securities are joint managers and bookrunners for the offering, the term sheet showed. Nordea and SEB Enskilda are co- managers, according to the document.

To contact the editor responsible for this story: Adam Haigh at