Thursday, April 02, 2020 1:20:56 AM
TOPS FILINGS ON MARCH 31, 2020:
On December 26, 2019, we received a written notification from Nasdaq indicating that because the closing bid price of our common shares for the last 30 consecutive business days was below $1.00 per share, we no longer met the minimum bid price requirement under Nasdaq rules. Pursuant to the Nasdaq Listing Rules, the applicable grace period to regain compliance is 180 days, or until June 23, 2020.
We intend to monitor the closing bid price of our common shares between now and June 23, 2020 and are considering our options, including a reverse stock split, in order to regain compliance with the Nasdaq Capital Market minimum bid price requirement. We can cure this deficiency if the closing bid price of our common stock is $1.00 per share or higher for at least ten consecutive business days during the grace period.
page S3
https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=14044283&RcvdDate=3/31/2020&CoName=TOP%20SHIPS%20INC.&FormType=424B5&View=html
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FROM THE FILINGS:
TOPS current Outstanding shares 117,705,155, Float 100 million because CEO's Family Trust hold 17.2 million shares
https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=14044283&RcvdDate=3/31/2020&CoName=TOP%20SHIPS%20INC.&FormType=424B5&View=html
CEO's Family Trust still Holds 17,274,140 Common shares
https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=14039200&RcvdDate=3/30/2020&CoName=TOP%20SHIPS%20INC.&FormType=SC%2013D/A&View=html
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Recent TOPS News
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- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 02/14/2024 10:27:23 PM
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