Top Ships Inc. Announces Credit Committee Approval for the Financing of its Last Newbuilding Vessel and Fully Funded Status
February 02 2022 - 8:15AM
TOP Ships Inc. (the “Company”), an international owner and operator
of modern, fuel efficient "ECO" tanker vessels, announced today
that it has obtained credit committee approval from a major
international financier for the financing, via a sale and leaseback
agreement, of up to 80% of the shipbuilding cost of the Suezmax
tanker vessel M/T Eco Oceano CA currently under construction at
Hyundai Samho Heavy Industries Co., Ltd. in South Korea.
The company had previously announced that it had entered into a
non-binding termsheet and disclosed the main terms of the financing
while awaiting credit committee approval.
The financing is only subject to the agreement and the execution
of customary legal documentation following which the Company’s
remaining newbuilding program will be fully funded.
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.
Forward-Looking Statements
Matters discussed in this press release may constitute
forward-looking statements. The Private Securities Litigation
Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts.
The Company desires to take advantage of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
and is including this cautionary statement in connection with this
safe harbor legislation. The words “believe,” “anticipate,”
“intends,” “estimate,” “forecast,” “project,” “plan,” “potential,”
“may,” “should,” “expect” “pending” and similar expressions
identify forward-looking statements. The forward-looking statements
in this press release are based upon various assumptions, many of
which are based, in turn, upon further assumptions, including
without limitation, our management's examination of historical
operating trends, data contained in our records and other data
available from third parties. Although we believe that these
assumptions were reasonable when made, because these assumptions
are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are
beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections.
Contact:
Alexandros TsirikosChief Financial OfficerTOP Ships Inc.Tel: +30
210 812 8107Email: atsirikos@topships.org
TOP Ships (NASDAQ:TOPS)
Historical Stock Chart
From Jun 2024 to Jul 2024
TOP Ships (NASDAQ:TOPS)
Historical Stock Chart
From Jul 2023 to Jul 2024