Mr. Economou Continues Discussions with a Cautionary Note

As discussions continue with an affiliate of Mr. Economou, Top Ships announced last week that it had extended its exclusivity agreement for two weeks through October 22. However, the earlier price indication of $6 has gone by the wayside. The potential acquirer has informed the company that the purchase price will be subject to further negotiations and will reflect prevailing market conditions. At today’s levels, we expect shareholders and management may be less inclined to move forward

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