TOP Ships will redeploy $23.5 million into its core tanker trade after electing to not continue with the in the past introduced Dubai actual property acquisition.
TOP Ships refocuses capital on fleet expansion, finishing its proposed Dubai actual property transaction and directing finances towards increasing its trendy ECO tanker operations.
TOP Ships Inc. (NYSE:TOPS)
ATHENS, GREECE, July 17, 2026 /EINPresswire.com/ — TOP Ships Inc. (the “Company” or “TOP Ships”) (NYSE American: TOPS), a world proprietor and operator of recent, fuel-efficient “ECO” tanker vessels, introduced these days that it has elected to not workout its way to gain the portfolio of residential actual property property in Dubai pondered by way of the letter of intent introduced on November 28, 2025.
TOP Ships is a B2i Virtual Featured Corporate. See the corporate’s profile at https://b2idigital.com/top-ships
The development money fee of $23.5 million will probably be refunded to the Corporate based on the phrases of the letter of intent, and the Corporate will don’t have any additional tasks with appreciate to this attainable transaction. The Corporate intends to deploy the capital launched in opposition to its tanker trade.
The verdict was once made by way of the particular committee of unbiased individuals of the Corporate’s board of administrators, allowing for the continuing instability within the Gulf area in addition to the Corporate’s urge for food for additional expansion of its tanker fleet.
In regards to the Corporate
TOP Ships Inc. is a world proprietor and operator of ocean-going vessels that specialize in trendy, fuel-efficient eco tanker vessels transporting crude oil, petroleum merchandise (blank and grimy) and bulk liquid chemical compounds. For more info about TOP Ships Inc., talk over with its website online: www.topships.org.
Cautionary Notice Relating to Ahead-Having a look Statements
Issues mentioned on this press free up would possibly represent forward-looking statements. The Personal Securities Litigation Reform Act of 1995 supplies protected harbor protections for forward-looking statements so as to inspire corporations to offer potential details about their trade. Ahead-looking statements come with statements regarding plans, goals, targets, methods, long term occasions or efficiency, and underlying assumptions and different statements, which can be rather than statements of ancient information, together with statements in regards to the attainable deployment of capital.
The Corporate wants to benefit from the protected harbor provisions of the Personal Securities Litigation Reform Act of 1995 and is together with this cautionary remark in reference to this protected harbor law. The phrases “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending,” and identical expressions determine forward-looking statements. The forward-looking statements on this press free up are primarily based upon quite a lot of assumptions, lots of which can be primarily based, in flip, upon additional assumptions, together with, with out limitation, our control’s exam of ancient working traits, information contained in our information, and different information to be had from 3rd events. Even though we imagine that those assumptions had been cheap when made, as a result of those assumptions are inherently matter to vital uncertainties and contingencies which can be tricky or not possible to expect and are past our keep watch over, we can’t guarantee you that we will be able to succeed in or accomplish those expectancies, ideals, or projections. Please see our filings with the Securities and Trade Fee for a extra whole dialogue of those and different dangers and uncertainties. The tips set forth herein speaks handiest as of the date hereof, and we disclaim any purpose or legal responsibility to replace any ahead‐searching statements because of trends happening after the date of this communique.
For additional knowledge, please touch:
Alexandros Tsirikos
Leader Monetary Officer
TOP Ships Inc.
Tel: +30 210 812 8107
E mail: atsirikos@topships.org
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TOP Ships Inc. (NYSE American: TOPS) cancels its Dubai actual property deal
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July 17, 2026, 13:33 GMT
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