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

Rhea-AI Summary

TOP Ships Inc. announced it has regained compliance with the minimum bid price requirement for the Nasdaq Capital Market, as per Nasdaq Listing Rule 5550(a)(2). This notification indicates a positive step for the company, enhancing its listing sustainability. TOP Ships operates modern, fuel-efficient tanker vessels and aims to assure shareholders of its ongoing compliance and operational performance.

Positive

• Regained compliance with Nasdaq minimum bid price requirement.

Negative

• None.

ATHENS, Greece, March 22, 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 does it mean for TOPS to regain compliance with Nasdaq requirements?

Regaining compliance with Nasdaq indicates that TOP Ships Inc. meets necessary listing standards, enhancing investor confidence and stock stability.

When did TOP Ships announce its compliance with Nasdaq?

TOP Ships announced its compliance on March 22, 2022.

What is the stock symbol for TOP Ships?

The stock symbol for TOP Ships is "TOPS."

What is the significance of Nasdaq Listing Rule 5550(a)(2) for TOP Ships?

Nasdaq Listing Rule 5550(a)(2) sets the minimum bid price requirement, which is crucial for maintaining listing status on the Nasdaq Capital Market.

How does compliance with Nasdaq affect TOP Ships investors?

Compliance with Nasdaq helps reassure investors about the stability and legitimacy of the company, potentially influencing stock performance positively.