Top Ships Inc (TOPS)

[S-BEES-BUMBLEBEE]

$TOPS: 2nd time they redeemed (repurchased and cancelled) preferred shares within last 2 weeks!

1st redemption of 483,694 Series F Preferred Shares on Dec. 30, 2022:

"On December 30, 2022, TOP Ships Inc. (the “Company”) redeemed 483,694 of its Series F Preferred Shares (the "Redemption") (representing approximately 7.6% of the Series F Preferred Shares outstanding prior to the completion of the redemption) for an aggregate amount of approximately $5.8 million, payable in cash. The Redemption was completed in accordance with the terms set out in the Statement of Designations of Rights, Preferences and Privileges of Series F Perpetual Preferred Stock of the Company, which has been filed as an exhibit to the Company’s Report on Form 6-K that was filed with the SEC on January 21, 2022. Following completion of the Redemption, as of the date hereof 5,850,748 of the Company’s Series F Preferred Shares remain issued and outstanding."

Link: https://www.otcmarkets.com/filing/html?id=16289644&guid=7Zs-k6A-YOnmdth

2nd redemption of 1,000,000 Series F Preferred Shares on Jan. 13, 2023:

"On January 13, 2023, TOP Ships Inc. (the “Company”) redeemed 1,000,000 of its Series F Preferred Shares (the "Redemption") (representing approximately 17% of the Series F Preferred Shares outstanding prior to the completion of the redemption) for an aggregate amount of approximately $12.0 million, payable in cash. The Redemption was completed in accordance with the terms set out in the Statement of Designations of Rights, Preferences and Privileges of Series F Perpetual Preferred Stock of the Company, which has been filed as an exhibit to the Company’s Report on Form 6-K that was filed with the SEC on January 21, 2022. Following completion of the Redemption, as of the date hereof, 4,850,748 of the Company’s Series F Preferred Shares remain issued and outstanding."

Link: https://www.otcmarkets.com/filing/html?id=16316197&guid=iQs-k6iT9kCXdth