Top Ships Inc (TOPS)

[surfer44]

Top Ships Inc. Announces Sale of Newbuilding Mega Yacht
December 31 2025 - 4:30PM


TOP Ships Inc. (the “Company” or “TOP Ships”) (NYSE American:TOPS), an international owner and operator of modern, fuel-efficient “ECO” tanker vessels, announced today that it has entered into a sale agreement (the “SPA”) for the sale to Rubico Inc. of a vessel-owning company (the “Owner”) which is party to a shipbuilding contract for a newbuilding mega yacht, the M/Y Sanlorenzo 1150Exp, with expected delivery from the shipyard in the second quarter of 2027 for a purchase price of $38.0 million. Consummation of the purchase and sale of the Owner’s shares under the SPA is expected to take place no later than March 31, 2026. A special independent committee composed of independent members of the Company's board of directors negotiated and approved the sale, after obtaining a fairness opinion from an independent financial advisor.

About the Company

TOP Ships Inc. is an international owner and operator of ocean-going vessels focusing on modern, fuel-efficient eco tanker vessels transporting crude oil, petroleum products (clean and dirty) and bulk liquid chemicals. For more information about TOP Ships Inc., visit its website: www.topships.org.

https://investorshub.advfn.com/stock-market/AMEX/top-ships-TOPS/stock-news/97536973/top-ships-inc-announces-sale-of-newbuilding-mega