TOP Ships Inc., an international owner and operator of modern, fuel efficient "ECO" tanker vessels, announced today the closing of its previously announced public offering of 6,750,000 units at a price of $2.00 per unit. Each unit consisted of one common share and one Class C warrant to purchase one common share, which were immediately separated upon issuance. The gross proceeds of the offering to the Company, before discounts and commissions and estimated offering expenses, were approximately $13.5 million.
Each Class C warrant is immediately exercisable for one common share at an exercise price of $2.00 per share and will expire five years from the date of issuance.
Maxim Group LLC acted as the sole placement agent in connection with the offering.
The offering was conducted pursuant to the Company's registration statement on Form F-1 (File No. 333-267545) previously filed with and subsequently declared effective by the Securities and Exchange Commission (“SEC”) on December 2, 2022. A final prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus relating to this offering may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745.
The Company expects to file promptly a post-effective amendment solely for the purpose of converting the registration statement for this offering from Form F-1 to Form F-3.