TOP Ships Inc. Announces Corporate Developments

ATHENS, Greece, April 01, 2022 (GLOBE NEWSWIRE) — TOP Ships Inc. (the “Company”), an international owner and operator of modern and fuel-efficient “ECO” tankers, today announced that it has entered into its sale of the MR2 Eco City of Angels product tanker to unaffiliated third parties. The related secured financing has been prepaid in full and the cash proceeds from the sale are approximately $9.4 million, before sale-related fees and expenses.

Finally, as of the date of this press release, 7,200,000 Series F preferred shares have been issued.

About TOP Ships Inc.

TOP Ships Inc. is an international shipping 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 to encourage companies to provide forward-looking information about their businesses. Forward-looking statements include statements regarding future plans, objectives, goals, strategies, events or performance, as well as underlying assumptions and other statements, that are other than statements of historical fact.

The Company wishes to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and includes this disclaimer as part of such safe harbor legislation. The words “believe”, “anticipate”, “intend”, “estimate”, “anticipate”, “project”, “plan”, “potential”, “may”, “should”, “expect to, “pending” and similar expressions identify forward-looking statements. The forward-looking statements contained in this press release are based on various assumptions, many of which are based, in turn, on other assumptions, including, without limitation, our management’s review of operating trends history, data in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because they are inherently subject to important uncertainties and contingencies which are difficult or impossible to predict and which are beyond our control, we cannot guarantee that we will meet or realize those expectations, beliefs or projections.

contacts:
Alexander Tsirikos
Financial director
TOP Ships Inc.
Tel: +30 210 812 8107
Email: [email protected]

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