Top Ships drops after filing $200 mln mixed shelf offering

TOP Ships

22/10/2019 14:18

** Greece-based tanker vessels operator Top Ships Inc
 TOPS.O  down 14.9% at $3.60 premarket
    ** Co late Mon filed for mixed shelf offering of up to $200
mln (See filing https://www.sec.gov/Archives/edgar/data/1296484/000091957419006514/d8401631_f-3.htm)
    ** Offering could potentially be in any combination of
common stock, preferred shares, debt securities, or warrants
    ** TOPS has 2 mln shares outstanding for market cap of $8.5
mln, per Refinitiv data
    ** On Sept 11, stock plunged ~48% to then record low after
co priced 1.58 mln stock and warrants deal at combined price of
$6.30 for $10 mln gross raise  urn:newsml:reuters.com:*:nGNX25BRTF
    ** Stock has lost >80% of value over past one year

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