TOP Ships Prices Public Offering Of 6.75 Mln Units At $2.00/unit

TOP Ships Inc. (TOPS) said that it has priced a public offering of 6.75 million units at a price of $2.00 per unit. Each unit consists of one common share and one Class C warrant to purchase one common share, and will immediately separate upon issuance.

The company expects gross proceeds of the offering to the company, before discounts and commissions and estimated offering expenses, to be about $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 issuance.

The offering is expected to close on or about December 6, 2022.

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