Performance Shipping Announces Expiration of Series B-2 Preferred Warrants

Palios

Performance Shipping Inc. (NASDAQ:DCIX), (the “Company”), a global shipping company specializing in the ownership of containerships, announced that its Series B-2 Preferred Warrants that are exercisable for Series B-2 Preferred Shares expired in accordance with their terms on March 24, 2019.

As of the date hereof, the Company has 26,753,851 issued and outstanding Common Shares and 2,000 Series B-2 Preferred Shares issued and outstanding. No additional Series B-2 Preferred Shares may be issued after the date hereof.

Mr. Symeon Palios, Director, Chief Executive Officer and Chairman of the Board, commented that:

“After the expiration of the Series B-2 Preferred Warrants, the Company is now set on a new start, as the Company’s fleet currently comprises of four unencumbered vessels, with zero debt outstanding. In addition to this, the Company’s available cash amounted to US$10.5 million, as of December 31, 2018 and since then, the Company collected an additional US$6.5 million of gross proceeds from the exercise of Series B-2 Preferred Warrants.”

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