Top Ships Inc: Hits record low on discounted public offering

TOP Ships

11/09/2019 16:26

** Shares of Greece-based tanker vessels operator  TOPS.O 
plunge 48.6% to $4.26, hitting record low after pricing 1.58 mln
underwritten public offering for estimated gross proceeds of
~$10 mln
    ** TOPS prices 1.58 mln common shares and warrants at a
combined price of $6.30 per share and warrant; co's Tuesday
closing price was $8.30  urn:newsml:reuters.com:*:nGNX25BRTF
    ** Co says warrants to be immediately exercisable at a price
of $8.19/common share and will expire on Dec. 31
    ** Including session losses, TOPS is down 73.9% YTD 

 (Reporting by Arunima Kumar in Bengaluru)
 ((arunima.kumar@thomsonreuters.com))