Top Ships Announces Termination of ATM Program of $19.7 Million
October 06 2022 - 12:05PM
TOP Ships Inc. (the “Company”), an international owner and operator
of modern, fuel efficient "ECO" tanker vessels, announced that it
has given notice to terminate the equity distribution agreement for
the sale of the Company’s common shares up to an aggregate amount
of $19.7 million (the “Agreement”) with Maxim Group LLC in an
“at-the-market” equity offering program (the “ATM”). The Company
will make no further sales under the ATM. Net proceeds from sales
under the ATM amounted to approximately $2.0 million.
About TOP Ships Inc.
TOP Ships Inc. is an international ship-owning
company.
For more information about TOP Ships Inc., visit
its website: www.topships.org.
Forward-Looking Statements
Matters discussed in this press release may
constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts.
The Company desires to take advantage of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 and is including this cautionary statement in
connection with this safe harbor legislation. The words “believe,”
“anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,”
“potential,” “may,” “should,” “expect” “pending” and similar
expressions identify forward-looking statements. The
forward-looking statements in this press release are based upon
various assumptions, many of which are based, in turn, upon further
assumptions, including without limitation, our management's
examination of historical operating trends, data contained in our
records and other data available from third parties. Although we
believe that these assumptions were reasonable when made, because
these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible
to predict and are beyond our control, we cannot assure you that we
will achieve or accomplish these expectations, beliefs or
projections.
Contact:
Alexandros TsirikosChief Financial OfficerTOP Ships Inc.Tel: +30
210 812 8107Email: atsirikos@topships.org
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