DryShips Inc. (NasdaqCM:DRYS) acquired 50.2% stake in Heidmar, Inc. from Morgan Stanley (NYSE:MS) for approximately $17 million on June 7 2019. Prior to the transaction, DryShips indirectly owned approximately 49.8% of Heidmar. The transaction was approved by the independent Directors of DryShips Inc. Pankaj Khanna has been appointed as Chief Executive Officer of Heidmar with immediate effect. Morgan Stanley acted as the financial advisor to Heidmar.

DryShips Inc. (NasdaqCM:DRYS) completed the acquisition of 50.2% stake in Heidmar, Inc. Morgan Stanley (NYSE:MS) on June 7, 2019.