Top Ships Agrees to Enter Into a $12.5 Million Note Purchase Agreement with Option for Additional $5 Million
TOP Ships Inc. (TOPS)
US:NASDAQ Investor Relations:
topships.org/investors-relations
Company Research
Source: GlobeNewswire
ATHENS, Greece, Nov. 10, 2017 (GLOBE NEWSWIRE) -- TOP Ships Inc. (Nasdaq:TOPS), an international ship-owning company (the “Company”), announced today that it has agreed in principle to enter into a note purchase agreement for the issuance of a revolving promissory note with Crede Capital Group LLC, a Delaware limited liability company, in the original principal amount of $12.5 million with a single revolving option for an additional $5.0 million note (the “Notes”). The Notes will have a 2-year term and will bear interest at 2% per annum for the first 90 days, 10% per annum for the next 90 days, and 15% per annum for the remaining duration of the term. The Notes will be pre-payable at the election of the Company at any time, will not be convertible into equity, and will begin to amortize upon their six-month anniversary. Proceeds from the Notes will be used to further expand the Company’s fleet and for general corporate purposes. This transaction is subject to customary closing condi
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News
- Imperial Petroleum: Zero Debt And Attractive Preferred Units Yields [Seeking Alpha]Seeking Alpha
- TOP Ships Inc. Announces Vessel Refinancings and Full Redemption of Series F Perpetual Preferred Shares Held by Related Party [Yahoo! Finance]Yahoo! Finance
- TOP Ships Inc. Announces Vessel Refinancings and Full Redemption of Series F Perpetual Preferred Shares Held by Related PartyGlobeNewswire
TOPS
Sec Filings
- 2/14/24 - Form SC
- 2/14/24 - Form SC
- 2/7/24 - Form 6-K
- TOPS's page on the SEC website