Financing ·
Top Ships extends $3.7M related-party debt due to Oct 31 with equity settlement option
TOPSTop Ships Inc.
Top Ships Inc. amended a related-party transaction with Rubico Inc., extending the payment deadline for the outstanding $3.7 million balance owed from Roman Shark V's acquisition by one month to October 31, 2026. The original $6.5 million purchase price had seen $2.8 million settled in cash, leaving the remainder due on September 30, 2026. Rubico may settle this outstanding balance in cash or, at its election, through newly-issued Series G Convertible Preferred Shares. Top Ships Inc. operates in the maritime shipping industry.