TOP Ships Inc. Announces Compliance With NASDAQ Minimum Bid Price Requirement
April 11 2018 - 6:00AM
TOP Ships Inc. (Nasdaq:TOPS), an international ship-owning company
(the “Company”), announced today that NASDAQ notified the Company
that it has regained compliance with the minimum bid price
requirement for the Nasdaq Capital Market, set forth in Nasdaq
Listing Rule 5550(a)(2).
The Company also announced that shareholders who held fractional
shares as a result of the reverse stock split effectuated on March
26, 2018 (the “Effective Date”), received a cash payment in lieu of
the fractional shares to which the shareholder would otherwise be
entitled multiplied by the opening price of the Company’s common
shares on the Nasdaq Capital Market on the Effective
Date.
About TOP
Ships Inc.TOP Ships Inc. is an international ship-owning
company. For more information about TOP Ships Inc., visit its
website: www.topships.org.Forward-Looking
StatementsMatters discussed in this press release may
constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts.The Company desires to take
advantage of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation. The
words “believe,” “anticipate,” “intends,” “estimate,” “forecast,”
“project,” “plan,” “potential,” “may,” “should,” “expect” “pending”
and similar expressions identify forward-looking statements. The
forward-looking statements in this press release are based upon
various assumptions, many of which are based, in turn, upon further
assumptions, including without limitation, our management's
examination of historical operating trends, data contained in our
records and other data available from third parties. Although we
believe that these assumptions were reasonable when made, because
these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible
to predict and are beyond our control, we cannot assure you that we
will achieve or accomplish these expectations, beliefs or
projections.Contacts: Mr. Alex NachmanInvestor
RelationsREDCHIPTel: +1 407 712 8960Email:
info@redchip.com
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