Top Ships (TOPS) Announces Management Estimate of Net Asset Value of $285M

TOP Ships Inc. (NASDAQ: TOPS) announced today that following the release of the Company’s financial results for the period ended June 30, 2023 the management estimates the company’s Net Asset Value (“NAV”), as of June 30, 2023 to be $285.3 million.

This translates into an NAV of $14.02 per common share (based on number of common shares currently outstanding) and $4.97 per common share on a fully diluted basis (assuming exercise of all outstanding warrants for cash and conversion of all outstanding Series E perpetual preferred shares at their current conversion price).

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