DryShips Inc. Announces Receipt of Acquisition Proposal

Athens, Greece – June 13, 2019

DryShips Inc. (NASDAQ:DRYS) (“DryShips”or the “Company”), a diversified owner and operator of ocean going cargo vessels, today announced it has received a non-binding offer letter from SPII Holdings Inc., (“SPII Holdings”), a company controlled by our Chairman and Chief Executive Officer, Mr. George Economou, which proposes a transaction pursuant to which the Company would be merged into a subsidiary of SPII Holdings.

The board of directors of the Company has formed a special committee consisting solely of disinterested directors to consider the proposal.

About DryShips Inc.
The Company is a diversified owner and operator of ocean going cargo vessels that operate worldwide. As of June 13,2019, the Company operates a fleet of 32 vessels comprisedof (i) 6 Panamax drybulk vessels; (ii) 9 Newcastlemax dry-bulk vessels; (iii) 5 Kamsarmax drybulk vessels; (iv) 1 Very Large Crude Carrier; (v) 3 Aframax tankers; (vi) 2 Suezmax tankers; and (vii) 6 Offshore Support Vessels, including 2 Platform Supply and 4 Oil Spill Recovery Vessels.

DryShips’common stock is listed on the NASDAQ Capital Market where it trades under the symbol “DRYS.”Visit the Company’s website at www.dryships.com.

In addition, DryShips Inc. owns 100% of Heidmar Inc. For more information please visit Heidmar’s website at www.heidmar.com.

DryShips Inc. press release