InvestorsHub Logo

S-BEES-BUMBLEBEE

12/06/22 7:33 PM

#12432 RE: javier1973 #12431

News out for $TOPS: Offering closed!!

TOP Ships Announces Closing of $13.5 Million Public Offering

TOP Ships Inc.
Tue, December 6, 2022 at 11:45 PM

ATHENS, Greece, Dec. 06, 2022 (GLOBE NEWSWIRE) -- TOP Ships Inc. (NASDAQ: TOPS) (the “Company”), an international owner and operator of modern, fuel efficient "ECO" tanker vessels, announced today the closing of its previously announced public offering of 6,750,000 units at a price of $2.00 per unit. Each unit consisted of one common share and one Class C warrant to purchase one common share, which were immediately separated upon issuance. The gross proceeds of the offering to the Company, before discounts and commissions and estimated offering expenses, were approximately $13.5 million.

Each Class C warrant is immediately exercisable for one common share at an exercise price of $2.00 per share and will expire five years from the date of issuance.

Maxim Group LLC acted as the sole placement agent in connection with the offering.

The offering was conducted pursuant to the Company's registration statement on Form F-1 (File No. 333-267545) previously filed with and subsequently declared effective by the Securities and Exchange Commission (“SEC”) on December 2, 2022. A final prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus relating to this offering may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745.

The Company expects to file promptly a post-effective amendment solely for the purpose of converting the registration statement for this offering from Form F-1 to Form F-3.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About TOP Ships Inc.

TOP Ships Inc. is an international ship-owning company. For more information about TOP Ships Inc., visit its website: www.topships.org.

Link: https://finance.yahoo.com/news/top-ships-announces-closing-13-224500353.html


Seems big boys loaded the boat before revaluation for Top Ships occurs?

Ultra low free float combined with huge assets, very high shareholder net equity and strongly increasing net profits should be an explosive mixture as I see it. I think fair value should be around $300m calculated with a very moderate PE ratio. How many shares are outstanding after recent offering? This ticker could easily run to $10+ fast now after closed offering. These guys are not invested for fun but for good ROI. Hmmmm
Bullish
Bullish