Top Ships Inc. Announces Compliance With NASDAQ Minimum Bid Price Requirement

Rhea-AI Summary

TOP Ships Inc. announced that it has regained compliance with NASDAQ's minimum bid price requirement, according to a notice received from NASDAQ. This achievement follows the company's efforts to meet the criteria set forth in Nasdaq Listing Rule 5550(a)(2). The compliance enhances the company's standing on the Nasdaq Capital Market, which can positively influence investor confidence and market perception.

Positive

• Regained compliance with NASDAQ's minimum bid price requirement.
• Improved standing on the Nasdaq Capital Market could enhance investor confidence.

Negative

• None.

ATHENS, Greece, Oct. 10, 2022 (GLOBE NEWSWIRE) -- TOP Ships Inc. (the “Company”), an international owner and operator of modern, fuel efficient "ECO" tanker vessels, announced today that NASDAQ notified the Company that it has regained compliance with the minimum bid price requirement for the Nasdaq Capital Market, set forth in Nasdaq Listing Rule 5550(a)(2).

About TOP Ships Inc.

TOP Ships Inc. is an international ship-owning company.
For more information about TOP Ships Inc., visit its website: www.topships.org.

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect” “pending” and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.

Contacts:
Alexandros Tsirikos
Chief Financial Officer
TOP Ships Inc. 
Tel: +30 210 812 8107
Email: atsirikos@topships.org

FAQ

What did TOP Ships Inc. announce on October 10, 2022?

TOP Ships Inc. announced that it has regained compliance with NASDAQ's minimum bid price requirement.

How does NASDAQ compliance affect TOP Ships Inc.?

Regaining NASDAQ compliance can positively impact investor confidence and the company's market standing.

What is Nasdaq Listing Rule 5550(a)(2)?

NASDAQ Listing Rule 5550(a)(2) pertains to the minimum bid price requirement for companies listed on the Nasdaq Capital Market.

What is the significance of complying with NASDAQ requirements for TOP Ships Inc.?

Compliance with NASDAQ requirements ensures continued listing on the exchange, which can attract more investors.