Performance Shipping agrees to $0.60/share warrant buyback

The company lists five remaining warrant categories after giving effect to the agreement, including Series B warrants covering up to 530,250 shares.

Available on EDGAR 11/04/2026 - 08:50 AM EST Accepted by SEC EDGAR 11/04/2026 - 08:50 AM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Performance Shipping Inc. (PSHG) agreed with a holder to repurchase and cancel Series B Warrants issued March 3, 2023, exercisable for up to 253,500 common shares, at $0.60 per common share underlying the warrants. The company said the repurchase complies with financial covenants in its bank loan facilities and sale-and-leaseback agreements, and with the terms of its 9.875% Senior Unsecured Bonds due 2029.

Giving effect to the agreement, the remaining warrants include Class A warrants for up to 377,366 shares at a $15.75 exercise price; warrants issued July 19, 2022, for up to 173,333 shares and issued August 16, 2022, for up to 422,916 shares, each at a $1.65 exercise price; Series A Warrants exchangeable for up to 14,300 shares; and Series B Warrants for up to 530,250 shares at a $2.25 exercise price. Maxim Group LLC is acting as financial advisor.

Key Figures

Shares underlying Series B Warrants agreed to be repurchased: up to 253,500 common shares Repurchase price per underlying common share: $0.60 per common share Remaining Class A Warrants: up to 377,366 common shares; $15.75 exercise price per share +4 more

7 metrics

Shares underlying Series B Warrants agreed to be repurchased up to 253,500 common shares Repurchase and cancellation agreement

Repurchase price per underlying common share $0.60 per common share Series B Warrants agreed to be repurchased

Remaining Class A Warrants up to 377,366 common shares; $15.75 exercise price per share Giving effect to the agreement

Remaining warrants issued July 19, 2022 up to 173,333 common shares; $1.65 exercise price per share Giving effect to the agreement

Remaining warrants issued August 16, 2022 up to 422,916 common shares; $1.65 exercise price per share Giving effect to the agreement

Remaining Series A Warrants exchangeable for up to 14,300 common shares Giving effect to the agreement

Remaining Series B Warrants up to 530,250 common shares; $2.25 exercise price per share Giving effect to the agreement

Key Terms

Series B Warrants, exercise price, financial covenants, sale-and-leaseback agreements, +1 more

5 terms

Series B Warrants technical

"repurchase and cancel Series B Warrants"

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.

exercise price financial

"at an exercise price of $15.75 per common share"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

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

"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 underlying shares are covered by the PSHG warrants being repurchased, and at what price?

Performance Shipping agreed to repurchase and cancel Series B Warrants exercisable for up to 253,500 common shares, at $0.60 per common share underlying the warrants.

What warrants will remain outstanding for PSHG after the agreement?

Giving effect to the agreement, the remaining warrants include Class A warrants for up to 377,366 shares at $15.75 per share; July 19, 2022, and August 16, 2022, warrants for up to 173,333 and 422,916 shares, respectively, each at $1.65 per share; Series A Warrants exchangeable for up to 14,300 shares; and Series B Warrants for up to 530,250 shares at $2.25 per share.

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

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

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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 ☐

1

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Performance Shipping Inc. (the “Company”) announced today that it has agreed with a certain holder of its outstanding common share purchase warrants (“Warrants”), to repurchase and cancel Series B Warrants issued on March 3, 2023, to purchase an aggregate of up to 253,500 common shares, at a price $0.60 per common share underlying the Series B Warrants. The repurchase is 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 this transaction, 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 530,250 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.

2

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 4, 2026	/s/ Andreas Michalopoulos
	By: Andreas Michalopoulos
	Chief Executive Officer