Top Ships Inc., an international owner and operator of modern, fuel efficient “ECO” tanker vessels currently focusing on the transportation of crude oil and petroleum products, announced today the expiration of the 5-year warrants to purchase common shares of the Company that were issued on June 11, 2014.
Evangelos Pistiolis, the President, Chief Executive Officer and Director of the Company, said:
“All of the warrants issued 5 years ago in connection with our June 2014 offering have now been extinguished. Therefore, there will be no further dilution to our shareholders as a result of the 2014 Warrants. The expiration of these warrants will result in a simpler capital structure and eliminate an element of volatility that has been affecting our financial results since 2014.”