Performance Shipping agrees to repurchase warrants

The repurchases are stated to comply with the company’s bank-facility, sale-and-leaseback and 2029 bond terms.

Available on EDGAR 11/02/2026 - 05:20 PM EST Accepted by SEC EDGAR 11/02/2026 - 05:20 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Performance Shipping Inc. agreed, in separate individually negotiated transactions with certain holders, to repurchase and cancel four groups of warrants: Class A Warrants to purchase up to 190,000 Warrants, and warrants to purchase up to 859,999, 1,699,306 and 3,313,250 common shares, issued on July 19, 2022, August 16, 2022 and March 3, 2023, respectively. The price is $0.20 per common share underlying the Class A Warrants and $0.60 per common share underlying the other repurchased Warrants. The company states the repurchases comply with financial covenants under its bank loan facilities and sale-and-leaseback agreements, and with the terms of its 9.875% Senior Unsecured Bonds due 2029. Maxim Group LLC is acting as financial advisor.

Filing Explained

After describing the agreed repurchases, the filing begins to state which warrants would remain but ends at “consist of” without listing them, so the post-transaction warrant balance cannot be determined from this disclosure.

Key Figures

Class A Warrants: up to 190,000 Warrants Warrants issued July 19, 2022: up to 859,999 common shares Warrants issued August 16, 2022: up to 1,699,306 common shares +4 more

7 metrics

Class A Warrants up to 190,000 Warrants Warrants to purchase; repurchase and cancellation agreement

Warrants issued July 19, 2022 up to 859,999 common shares Underlying shares; repurchase and cancellation agreement

Warrants issued August 16, 2022 up to 1,699,306 common shares Underlying shares; repurchase and cancellation agreement

Series B Warrants issued March 3, 2023 up to 3,313,250 common shares Underlying shares; repurchase and cancellation agreement

Class A Warrant repurchase price $0.20 per common share underlying the Warrants Price for the repurchased Class A Warrants

Other Warrant repurchase price $0.60 per common share underlying the Warrants Price for the other repurchased Warrants

Senior Unsecured Bonds interest rate 9.875% Senior Unsecured Bonds due 2029

Key Terms

Class A Warrants, Series B Warrants, financial covenants, sale-and-leaseback agreements, +1 more

5 terms

Class A Warrants financial

"Class A Warrants to purchase an aggregate of up to 190,000 Warrants"

Series B Warrants financial

"Series B Warrants issued on March 3, 2023"

Series B warrants are contracts issued alongside a company's Series B financing that give the holder the right to buy a set number of shares at a fixed price within a specified time. For investors, they matter because they can provide leveraged upside if the company grows, or they can dilute existing shareholders when exercised—like a coupon promising a future share at a known price that can add value or change ownership stakes.

financial covenants financial

"in compliance with the Company’s financial covenants"

Financial covenants are rules written into loan or bond agreements that require a company to keep certain financial measures within agreed limits—examples include minimum cash, maximum debt levels, or minimum profit margins. They act like guardrails for lenders: breaking a covenant can force renegotiation, trigger penalties or default, and quickly affect a company’s available cash and stock value, so investors watch them as early warning signs of financial stress.

sale-and-leaseback agreements financial

"under its bank loan facilities and sale-and-leaseback agreements"

Senior Unsecured Bonds financial

"9.875% Senior Unsecured Bonds due 2029"

Senior unsecured bonds are loans a company issues to investors that have priority for repayment over other unsecured debts but are not backed by specific assets as collateral. Think of them as a high‑priority IOU: if the company runs into trouble, holders are paid before holders of junior debt but after any creditors who have claims on particular assets, so they offer a mix of relative safety and higher yield than secured or higher‑priority loans.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many warrants is PSHG repurchasing?

Performance Shipping agreed to repurchase and cancel Class A Warrants to purchase up to 190,000 Warrants, plus warrants to purchase up to 859,999, 1,699,306 and 3,313,250 common shares. The latter groups were issued on July 19, 2022, August 16, 2022 and March 3, 2023, respectively.

What prices will PSHG pay for the warrant repurchases?

The stated prices are $0.20 per common share underlying the Class A Warrants and $0.60 per common share underlying the other repurchased Warrants.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 6-K: How Foreign Companies Report to the SEC →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

For the month of November 2026

Commission File Number: 001-35025

PERFORMANCE SHIPPING INC.

(Translation of registrant's name into English)

373 Syngrou Avenue

175 64 Palaio Faliro

Athens, Greece

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒ Form 40-F ☐

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Performance Shipping Inc. (the “Company”) announced today that it has agreed, in separate individually-negotiated transactions with certain holders of its outstanding common share purchase warrants (“Warrants”), to repurchase and cancel (i) Class A Warrants to purchase an aggregate of up to 190,000 Warrants, (ii) Warrants issued on July 19, 2022 to purchase an aggregate of up to 859,999 common shares, (iii) Warrants issued on August 16, 2022 to purchase an aggregate of up to 1,699,306 common shares, and (iv) Series B Warrants issued on March 3, 2023 to purchase an aggregate of up to 3,313,250 common shares, at a price of $0.20 per common share underlying the Class A Warrants and $0.60 per common share underlying the other repurchased Warrants. The repurchases are in compliance with the Company’s financial covenants under its bank loan facilities and sale-and-leaseback agreements, as well as the bond terms of its 9.875% Senior Unsecured Bonds due 2029.

Giving effect to these transactions, the Company’s remaining outstanding Warrants consist of:

• Class A Warrants to purchase up to 377,366 common shares at an exercise price of $15.75 per common share;

• Warrants issued July 19, 2022, to purchase up to 173,333 common shares at an exercise price of $1.65 per common share;

• Warrants issued August 16, 2022, to purchase up to 422,916 common shares at an exercise price of $1.65 per common share;

• Series A Warrants issued March 3, 2023, which are exchangeable for up to 14,300 common shares; and

• Series B Warrants issued March 3, 2023, to purchase up to 783,750 common shares at an exercise price of $2.25 per common share.

Maxim Group LLC is acting as financial advisor in connection with the warrant repurchase.

The information contained in this Report on Form 6-K is hereby incorporated by reference into the Company’s registration statement on Form F-3 (File No. 333-197740), filed with the U.S. Securities and Exchange Commission (the “SEC”) with an effective date of August 13, 2014, the Company’s registration statement on Form F-3 (File No. 333-266946), filed with the SEC with an effective date of August 29, 2022, and the Company’s registration statement on Form F-3 (File No. 333- 295541), filed with the SEC with an effective date of May 21, 2026.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	PERFORMANCE SHIPPING INC.
	(Registrant)
Dated: November 2, 2026	/s/ Andreas Michalopoulos
	By: Andreas Michalopoulos
	Chief Executive Officer