TOP Ships Inc. (the “Company”) (NASDAQ:TOPS) announced today that it has entered into a placement agent agreement with Maxim Group LLC relating to the sale of the Company’s securities (the “Placement Agent Agreement”). Pursuant to the Placement Agent Agreement, the Company entered into a securities purchase agreement with certain institutional investors in connection with a registered direct offering of an aggregate of 40,000,000 common shares at a public offering price of $0.20 per share in a registered direct offering priced at-the-market under Nasdaq rules (the “Registered Offering”). The aggregate gross proceeds of the Registered Offering is $8.0 million. The Registered Offering is expected to close on or about April 1, 2020, subject to the satisfaction of customary closing conditions.
Maxim Group LLC is the sole placement agent in connection with the offering.
The common shares are being offered pursuant to a shelf registration statement on Form F-3 (File No. 333-234281) previously filed and declared effective by the United States Securities and Exchange Commission (“SEC”). A prospectus supplement relating to the offering will be filed by the Company with the SEC. When filed, copies of the prospectus supplement, together with the accompanying base prospectus, can be obtained at the SEC's website at http://www.sec.gov or from the offices of Maxim Group LLC, 405 Lexington Avenue, New York, New York 10174, Attn: Prospectus Department, or by telephone at (212) 895-3745.
Key datapoints: The growth forecast is 29.1% annually for the next 7 years. This market report covers trends, opportunities, and forecasts in the aerogel for EV batteries market up to 2031 by type (aerogel blanket, aerogel battery insulation sheet, and others), application (passenger cars and commercial vehicles), and region (North America, Europe, Asia Pacific, and the Rest of the World)
Download free sample pagesThis press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. Any offers of securities will be made only by means of a prospectus supplement and accompanying base prospectus.
