TOP Ships agrees to sell two tanker-owning companies to Rubico for about $14.5 million

• TOP Ships agreed to sell 100% of two companies holding MR tanker newbuilding contracts to related-party Rubico for approximately $14.5 million.
• The two 47,499-dwt chemical/product oil carriers are scheduled for delivery in the fourth quarters of 2028 and 2029, respectively.
• Payment is due at closing in cash or, at Rubico's election, partly or entirely in its Series G Perpetual Convertible Preferred Shares.
• Closing is expected by March 31, 2027, subject to customary conditions.
• A committee of independent, disinterested directors approved the sale following a fairness opinion from an independent financial adviser.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. TOP Ships Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202611121100PRIMZONEFULLFEED9876451) on November 12, 2026, and is solely responsible for the information contained therein.