On Wednesday TOP Ships Inc. (TOP) announced a pricing of $6.0 million common share registered direct offering. Today, that offer is expected to close.
The company entered into the placement agency agreement with Maxim Group LLC for the sale of company’s securities, the company also agreed to purchase securities with certain institutional investors in connection to a registered direct offering of 33,333,333 common shares at a public offering price of $0.18 per share resulting in a total of $5,999,999.94.
The offering is expected to close today. While shares are offered pursuant to a shelf registration statement, it has been declared effective by the United States Securities and Exchange Commission (SEC).
