If you bought DRYS last week near the top, today’s movie is meaningless horseshit to you. You’re, indelibly, in a post apocalyptic haze — walking about a dystopian landscape with your guts dragging beneath your feet on a hard, cold ground.
But if you bought on Friday, this is good news. DRYS cut a deal with a bank and the stock is surging.
If you enjoy the content at iBankCoin, please follow us on TwitterDryShips announces an agreement with one of its lenders to settle outstanding loan obligations
The lending bank has agreed to a write-off of ~50% of the outstanding principal and interest due. The co has repaid ~$8.2 mln of principal and will have to pay an additional amount of $2.0 mln over the next 9 months against a full and final settlement of all of its obligations under the credit documents.
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