Performance Shipping Announces Termination of ATM Offering

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Performance Shipping, a global shipping company specializing in the ownership of tanker vessels, announced that, effective August 23, 2022, it has terminated the At The Market Offering Agreement with H.C. Wainwright & Co., LLC, dated March 5, 2021.

Prior to termination, the Company issued and sold 526,916 shares of its common stock under the ATM Agreement, raising net proceeds, after deducting commissions and other expenses, of approximately $1.3 million.

The Company is terminating the ATM Agreement because it does not intend to raise additional capital or sell additional shares under the ATM Agreement.