Top Ships: Drops on pricing stock offering at discount

TOP Ships

24/06/2020 14:52

** Tanker operator's shares  TOPS.O  down 10.4% at 15 cents
in morning trade
    ** Co announces pricing of $20 mln common shares
    ** Enters securities purchase agreement with certain
institutional investors for offering of 166.7 mln common shares
at 12 cents/share  urn:newsml:reuters.com:*:nGNX54wDJj
    ** Offering priced at a discount of 25% to stock's Tuesday
close
    ** stock down ~79% YTD, as of last close 

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776;))