Top Ships redeems 1 million series F preferreds for $12 million

By Wendy Van Sickle

Columbus, Ohio, Jan. 13 – Top Ships Inc. redeemed 1 million of its series F perpetual preferred shares, representing about 17% of the preferreds outstanding prior to the redemption, for a total amount of roughly $12 million in cash on Friday, according to a 6-K filing with the Securities and Exchange Commission.

Following completion of the redemption, 4,850,748 of the series F preferreds remain issued and outstanding.

The owner and operator of tanker vessels is based in Marousi, Greece.

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