• TOP Ships announced a $5 million private placement of senior convertible notes and warrants, expected to close October 28, 2026.
• The $5.56 million principal carries a 10% original issue discount; annual interest is 8% in cash or 10% in common shares.
• Notes mature in 12 months, with an optional extension to 18 months increasing principal by 5%.
• Initial issuance includes warrants for 19,841,269 common shares at $0.28 each, alongside 992,064 commitment shares or pre-funded warrants.
• A conditional second tranche could raise another $5 million through additional senior convertible notes and warrants.

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 EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001171843-26-007038), on November 02, 2026, and is solely responsible for the information contained therein.