Mergers & Acquisitions ·
TOP Ships Inc. announced on July 28, 2026, that it entered into an agreement to sell 100% of the shares of a special…
TOPSTop Ships Inc.
TOP Ships Inc. announced on July 28, 2026, that it entered into an agreement to sell 100% of the shares of a special purpose vehicle to Rubico Inc., a related party, for approximately $6.5 million. The SPV holds a shipbuilding contract with Guangzhou Shipyard International Company Limited and China Shipbuilding Trading Co., Ltd. for the construction of a 47,499 dwt chemical/product oil carrier scheduled for delivery in the second quarter of 2029. The transaction is expected to close by September 30, 2026, subject to customary closing conditions. The sale was approved by a special committee of independent board members that obtained a fairness opinion from an independent financial advisor. TOP Ships Inc. is an international owner and operator of ocean-going vessels focusing on modern, fuel-efficient eco tanker vessels transporting crude oil, petroleum products, and bulk liquid chemicals.