DivestmentJul 15, 2026, 11:16 AM
TOP Ships Sells SPV with Tanker Shipbuilding Contract for $6.25M
AI Summary
TOP Ships Inc. announced an agreement to sell 100% of the shares of a Marshall Island company (SPV) to Rubico Inc. The SPV holds a shipbuilding contract for a 47,499 dwt Medium Range product/chemical oil tanker, scheduled for delivery in 2029. The selling price for the SPV is approximately $6.25 million, with the transaction expected to close by September 30, 2026. The sale received approval from a special committee of independent directors, supported by a fairness opinion.
Key Highlights
- TOP Ships Inc. agreed to sell 100% of shares of a Marshall Island company (SPV).
- The SPV holds a shipbuilding contract for one 47,499 dwt Medium Range product/chemical oil tanker.
- The tanker is scheduled for delivery during 2029 from Guangzhou Shipyard International.
- The aggregate selling price for the SPV shares is approximately $6.25 million.
- The transaction is expected to close by September 30, 2026.
- The sale was approved by a special committee of independent directors, which obtained a fairness opinion.
Price Impact
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