$TOPS

TOP Ships Inc. (TOPS) announced the acquisition of four ice class 1A MR tankers, with deliveries scheduled from 2029 to 2030. The deal includes a $34.95M purchase price and a $1.24B potential gross revenue backlog, assuming charter extensions. The vessels are 85% financed and have 7-year charters with an oil major. The transaction is subject to closing conditions and financing.

TOP Ships Inc. (NYSE American: TOPS) completed the acquisition of three newbuilding MR tankers, each with a 5-year charter agreement with an oil major. The vessels are set for delivery in 2029. The company operates a fleet of 857,000 dwt, including various tankers and a megayacht it plans to sell.

TOP Ships (AMEX: TOPS) shares surged 67.13% to $1.20 after hours on Monday, following a 0.84% gain during regular trading. The rally coincided with an SEC filing showing reduced insider ownership due to new share issuances. The company reported first-half revenue of $25.5M and net income of $6.5M. TOPS has a market cap of $5.48M and has fallen 86.90% over the past year.

TOP SHIPS INC. (TOPS) furnished an SEC Form 6-K — earnings release. EXHIBIT 99.1 TOP Ships Inc. Announces Net Income of $6.5 Million, Diluted Earnings per Share of $0.61 and Stockholders’ Equity of $76.7 Million for the Six Months Ended June 30, 2026 ATHENS, Greece, Sept. 16, 2026 (GLOBE NEWSWIRE) -- TOP Ships Inc. (the “Company” or “TOP Ships”)

TOP Ships Inc. (TOPS) reported a net income of $6.5 million for the first half of 2026, with revenues of $25.5 million and EBITDA of $17.2 million. The company has secured long-term charters for new vessels, totaling $680.4 million in contracted revenue. It also plans to divest its megayacht and redeploy capital into its core tanker business.

Top Ships Inc. (NYSE American: TOPS) said it signed a share purchase agreement to acquire three SPVs owning contracts for three ECO, scrubber-fitted MR product tanker newbuildings, delivered in 2029. The vessels have five-year time charters with an oil major, with a one-year option. Potential gross revenue backlog is about $140.6 million. Purchase price is about $7.4 million, expected to close by Sept. 30, 2026.

TOP Ships Inc. said its management estimate of net asset value (NAV) as of June 30, 2026 is $359.2 million, up 24% from the NAV previously reported on March 10, 2026. The estimate uses June 30, 2026 charter-free vessel values from third-party brokers, plus debt and cash. NAV is $47.19 per common share, $12.49 per fully diluted share.

TOP Ships Inc. (NYSE American: TOPS) said it plans to sell the M/Y Para Bellvm, a 47-meter Sanlorenzo yacht built in 2023, and exit the megayacht sector. The company expects the sale to release significant capital, potentially a multiple of its market capitalization, to redeploy into its ECO tanker business, though no sale is assured.

TOP Ships Inc. (NYSE American: TOPS) said it will not exercise its option to buy a Dubai residential real estate portfolio outlined in a Nov. 28, 2025 letter of intent. The $23.5 million advance cash payment will be refunded, and the company has no further obligations. TOPS plans to redeploy the capital to its tanker business.

TOP Ships Inc. said it agreed to sell 100% of an SPV holding a contract for a 47,499 dwt ECO MR product/chemical tanker under construction at Guangzhou Shipyard, with delivery expected in 2029. The sale price is about $6.25 million, paid at closing, expected by Sept. 30, 2026, subject to conditions. The board’s special committee approved the deal after a fairness opinion.