Top Ships Inc (TOPS)

[drobx]

As others have noted, the release does NOT say there will be no dilution in the next 12 months. It says there won't be certain types of dilution. What I think they are saying is that they won't engage in any toxic financing, which is a good thing, but is not the same as no dilution. So they might still, for example, do a private placement at some fixed price per share.

"TOP Ships Inc. (Nasdaq:TOPS), an international ship-owning company (the “Company”), announced today that for 12 months following the date of this release: (i) it does not intend to conduct any offerings that include variable priced securities; (ii) it does not intend to issue any further shares under the equity line offering registered on the Company’s Form F-3 (333-215577) pursuant to the purchase agreement dated December 11, 2017; (iii) Race Navigation Inc., a company controlled by Lax Trust, an irrevocable trust established for the benefit of certain family members of Evangelos Pistiolis, the President, Chief Executive Officer and Director of the Company, will not convert any of its 1,250,000 warrants pursuant to a standstill agreement with the Company."