Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
December 07 2023 - 7:30AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of December 2023
Commission File Number: 001-37889
TOP SHIPS INC.
(Translation of registrant's name into English)
1 VAS. SOFIAS & MEG.
ALEXANDROU STREET
151 24, MAROUSSI
ATHENS, GREECE
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ X ] Form 40-F [ ]
On December 7, 2023, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
(c) Exhibit 99.1. Press release dated December 7, 2023
The information contained in this report on Form 6-K, other than the speech of the company's CEO, is hereby incorporated by reference
into the Company's registration statements on Form F-3 (File Nos. 333-267170, 333-268475 and 333-267545).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| | TOP SHIPS INC. |
| | (Registrant) |
| | |
| | |
Date: December 7, 2023 | | /s/ Evangelos J. Pistiolis |
| | Evangelos J. Pistiolis |
| | Chief Executive Officer |
| | |
EXHIBIT
99.1
TOP
Ships Announces Increase in Shareholding by Pistiolis Family to 73% Via Full Conversion of
Preferred Shares and Open-Market Purchases Demonstrating the CEO’S Commitment to the
Company
ATHENS, Greece, Dec. 07, 2023 (GLOBE NEWSWIRE) -- TOP Ships Inc. (the “Company”
or “Top Ships”) (NASDAQ:TOPS), an international owner and operator of modern, fuel efficient “ECO” tanker vessels,
announced today that it has issued 2,930,718 common shares pursuant to an exercise notice for the conversion of 100% of the Series E
preferred shares held by a trust for the benefit of family members of the Company’s CEO.
Following
this issuance, as of the date hereof, the total number of common shares outstanding is 4,626,224,
and the CEO together with his family trust owns 3,377,164 common shares, or 73.0% of the
outstanding common shares. The common shares issued on conversion of the Series E preferred
shares are restricted shares under the Securities Act of 1933, as amended. Along with the
shares purchased in the open market by the CEO, these shares have not been registered for
resale and may be resold in the open market only pursuant to the volume limitations of Rule
144.
The
Company’s CEO said:
“As
I have mentioned on various occasions, the recent trading price of our common shares clearly
does not reflect the intrinsic value of the Company. I therefore decided, as I have disclosed
through recent SEC filings, to acquire a significant shareholding of 446,030 common shares
in open-market purchases, thus clearly demonstrating my commitment and support to this company.”
About
TOP Ships Inc.
TOP
Ships Inc. is an international owner and operator of modern, fuel efficient eco tanker vessels
focusing on the transportation of crude oil, petroleum products (clean and dirty) and bulk
liquid chemicals. 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.
For
further information please contact:
Alexandros Tsirikos
Chief Financial Officer
TOP
Ships Inc.
Tel: +30 210 812 8107
Email: atsirikos@topships.org
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