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TOP Ships Inc. (NYSE: TOPS) plans M/Y Para Bellvm sale and megayacht exit

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

TOP Ships Inc. plans to sell its 47-meter megayacht M/Y Para Bellvm and exit the megayacht sector. The vessel, built in 2023 at the Sanlorenzo shipyard, can accommodate 12 guests with a crew of 10.

The company states that it intends to pursue a sale to release significant capital, which it expects to be a multiple of its current market capitalization, for redeployment into its core tanker shipping business. Any transaction remains uncertain and would depend on negotiating definitive agreements, obtaining required consents and satisfying customary closing conditions.

Positive

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Yacht length 47 meters Length of M/Y Para Bellvm megayacht
Guest capacity 12 guests Accommodation capacity of M/Y Para Bellvm
Crew capacity 10 crew Crew complement of M/Y Para Bellvm
Build year 2023 Year M/Y Para Bellvm was built at Sanlorenzo shipyard
Megayacht sector technical
"decided to sell the M/Y Para Bellvm and exit the Megayacht sector"
fuel-efficient "ECO" tanker vessels technical
"owner and operator of modern, fuel-efficient "ECO" tanker vessels"
forward-looking statements regulatory
"Matters discussed in this press release may constitute forward-looking statements"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Private Securities Litigation Reform Act of 1995 regulatory
"The Private Securities Litigation Reform Act of 1995 provides safe harbor protections"

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FAQ

What did TOP Ships Inc. (TOPS) announce regarding the M/Y Para Bellvm?
TOP Ships Inc. announced that it plans to sell the M/Y Para Bellvm and exit the megayacht sector, aiming to redeploy released capital into its core tanker shipping business, subject to successful completion of a sale transaction.

What are the key characteristics of TOP Ships Inc.’s M/Y Para Bellvm?
The M/Y Para Bellvm is a 47-meter yacht built in 2023 at the Sanlorenzo shipyard. It is designed to accommodate 12 guests and a crew of 10, positioning it firmly in the megayacht category.

How does TOP Ships Inc. (TOPS) plan to use the capital from a potential yacht sale?
TOP Ships Inc. states it expects the sale to release significant capital, anticipated to be a multiple of its current market capitalization, which it plans to redeploy toward its core business of operating modern, fuel-efficient tanker vessels.

Is the sale of the M/Y Para Bellvm by TOP Ships Inc. guaranteed to occur?
No. The company notes there can be no assurance that a sale will be completed, or regarding its timing, structure, terms, or proceeds, as any transaction depends on definitive agreements and required consents.

What strategic change does TOP Ships Inc. (TOPS) signal with this decision?
By deciding to sell the M/Y Para Bellvm, TOP Ships Inc. signals a full exit from the megayacht sector and an intention to focus its capital and efforts on its core tanker fleet transporting crude oil, petroleum products, and liquid chemicals.

What type of vessels does TOP Ships Inc. (TOPS) focus on after exiting megayachts?
TOP Ships Inc. focuses on owning and operating modern, fuel-efficient eco tanker vessels that transport crude oil, petroleum products (clean and dirty), and bulk liquid chemicals, which remains its primary business segment.
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2026

Commission File Number: 001-37889

TOP SHIPS INC.
(Translation of registrant's name into English)

20 Iouliou Kaisara Str
19002, Paiania
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 [ X ]      Form 40-F [   ]

 

 

On July 22, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

(c) Exhibit 99.1. Press release dated July 22, 2026

The information contained in this Report is hereby incorporated by reference into the Company’s registration statements on Form F-3 (File Nos. 333-290238, 333-268475 and 333-267545).

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.

      TOP SHIPS INC.    
  (Registrant)
   
  
Date: July 22, 2026     /s/ Evangelos J. Pistiolis     
  Evangelos J. Pistiolis
  Chief Executive Officer
  

EXHIBIT 99.1

TOP Ships Inc. Announces Decision to Sell M/Y Para Bellvm and Exit the Megayacht Sector

ATHENS, Greece, July 22, 2026 (GLOBE NEWSWIRE) -- TOP Ships Inc. (the “Company” or “TOP Ships”) (NYSE American: TOPS), an international owner and operator of modern, fuel-efficient “ECO” tanker vessels, announced today that it has decided to sell the M/Y Para Bellvm and exit the Megayacht sector. The M/Y Para Bellvm is a 47-meter yacht built in 2023 at the Sanlorenzo shipyard, with capacity for 12 guests and a crew of 10.

The Company intends to pursue the sale of the M/Y Para Bellvm with the objective of releasing significant capital, expected to be a multiple of the Company’s current market capitalization, for redeployment towards its core tanker business.

There can be no assurance that a sale will be completed, or as to its timing, structure, terms or the proceeds ultimately realized. Any transaction would be subject to the negotiation and execution of definitive agreements, the consent of relevant counterparties and financiers, and customary conditions.

About the Company

TOP Ships Inc. is an international owner and operator of ocean-going vessels focusing on modern, fuel-efficient eco tanker vessels transporting crude oil, petroleum products (clean and dirty) and bulk liquid chemicals. For more information about TOP Ships Inc., visit its website: www.topships.org.

Cautionary Note Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts, including statements regarding the intended divestment of the Company’s megayacht, the estimated proceeds and potential equity release that may be realized in connection with a divestment, and the redeployment of capital.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending,” and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including, without limitation, our management's examination of historical operating trends, data contained in our records, and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs, or projections. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward‐looking statements as a result of developments occurring after the date of this communication.

For further information please contact:

Alexandros Tsirikos
Chief Financial Officer
TOP Ships Inc.
Tel: +30 210 812 8107
Email: atsirikos@topships.org 

Source: View Original Filing on SEC EDGAR

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