TOP Ships Announces $5 Million Private Placement of Convertible Notes and Warrants
Bitget2026/11/02 22:28- TOP Ships announced a $5 million private placement of senior convertible notes and warrants, expected to close October 28, 2026.
- The $5.56 million principal carries a 10% original issue discount; annual interest is 8% in cash or 10% in common shares.
- Notes mature in 12 months, with an optional extension to 18 months increasing principal by 5%.
- Initial issuance includes warrants for 19,841,269 common shares at $0.28 each, alongside 992,064 commitment shares or pre-funded warrants.
- A conditional second tranche could raise another $5 million through additional senior convertible notes and warrants.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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