Top Ships plans $50 million public shares sale with preferred rights

Deal funds contractual commitment, working capital, corporate purposes

By Devika Patel

Knoxville, Tenn., July 14 – Top Ships Inc. will sell $50 million of its common shares in a public offering with a 45-day greenshoe option, according to a Form F-1 filed Monday with the Securities and Exchange Commission.

Each share will be accompanied by a preferred stock purchase right.

Aegis Capital Corp. is the bookrunning manager.

Proceeds will be used for contractual commitments, working capital and general corporate purposes.

Maroussi, Greece-based Top Ships is a provider of international seaborne transportation services for refined petroleum products, crude oil and dry bulk commodities.

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