TOP Ships extends $3.7M payment deadline to Oct. 31

Rubico may settle the extended balance in cash or, at its election, in newly issued shares of its existing Series G Convertible Preferred Shares.

Rhea-AI Filing Summary

On September 30, 2026, TOP Ships Inc. (TOPS) amended its related-party transaction with Rubico Inc. concerning Rubico’s acquisition of Roman Shark V Inc. for an aggregate purchase price of $6.5 million under a Share Purchase Agreement dated July 27, 2026. Of that amount, $2.8 million has been settled in cash, leaving a $3.7 million balance owed to TOP Ships.

The balance, originally due September 30, 2026, is now due October 31, 2026 and may be settled in cash or, at Rubico’s election, in newly issued shares of Rubico’s existing series of Series G Convertible Preferred Shares. Roman Shark V is party to a shipbuilding contract for one 47,499 dwt MR chemical/product oil tanker.

Key Figures

Aggregate purchase price: $6.5 million Settled in cash: $2.8 million Outstanding balance: $3.7 million +3 more

6 metrics

Aggregate purchase price $6.5 million Roman Shark V acquisition under the July 27, 2026 Share Purchase Agreement

Settled in cash $2.8 million Amount settled from the aggregate purchase price

Outstanding balance $3.7 million Balance owed to TOP Ships; payment deadline extended to October 31, 2026

Original payment due date September 30, 2026 Original deadline for the outstanding balance

Extended payment due date October 31, 2026 Amended deadline for the outstanding balance

Vessel deadweight capacity 47,499 dwt One MR chemical/product oil tanker under the shipbuilding contract

Key Terms

related-party transaction, Series G Convertible Preferred Shares, shipbuilding contract, dwt

4 terms

related-party transaction financial

"amend a previously disclosed related-party transaction"

A related-party transaction is a deal, payment or transfer of value between a company and people or entities closely connected to its managers, directors or major owners—think of a business hiring a company owned by the CEO’s sibling. Investors care because such deals can be biased, overprice goods or hide conflicts of interest, affecting profits and trust; clear disclosure and fair terms help ensure the company is run in shareholders’ best interest.

Series G Convertible Preferred Shares financial

"newly-issued shares of Rubico’s existing series"

shipbuilding contract technical

"party to a shipbuilding contract dated February 3, 2026"

A shipbuilding contract is a formal agreement between a buyer and a shipyard for designing, building and delivering a vessel to an agreed specification, price and timeline. For investors it signals future revenue, cash flow timing, and risk exposure—like ordering a custom-built house: the buyer locks in a price and delivery but faces construction delays, cost overruns or cancellation risks that can affect the shipyard’s financial health.

dwt technical

"one 47,499 dwt MR chemical/product oil tanker"

FAQ

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

How much does Rubico owe TOPS, and when is payment due?

Rubico owes TOP Ships $3.7 million, with payment extended to October 31, 2026 from September 30, 2026. The balance is part of the $6.5 million purchase price for Roman Shark V Inc.; $2.8 million has been settled in cash.

How can Rubico settle the balance owed to TOPS?

Rubico may pay the $3.7 million balance in cash or, at Rubico’s election, in newly issued shares of its existing series of Series G Convertible Preferred Shares. The amended payment deadline is October 31, 2026.

What does Roman Shark V’s shipbuilding contract cover?

Roman Shark V’s contract with Guangzhou Shipyard International Company Limited and China Shipbuilding Trading Co., Ltd. covers construction of one 47,499 dwt MR chemical/product oil tanker.

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

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

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Available on EDGAR 10/15/2026 - 04:30 PM EDT Accepted by SEC EDGAR 10/15/2026 - 04:30 PM EDT Learn about SEC filing dates

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 October 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 September 30, 2026, TOP Ships Inc. (the “Company”) entered into an agreement with Rubico Inc. (“Rubico”), a related party to the Company, to amend a previously disclosed related-party transaction.

The amendment relates to the balance owed to the Company in connection with Rubico’s acquisition of Roman Shark V Inc. (“Roman Shark V”) from the Company pursuant to a Share Purchase Agreement by and between the Company and Rubico dated July 27, 2026. Roman Shark V is party to a shipbuilding contract dated February 3, 2026 with Guangzhou Shipyard International Company Limited and China Shipbuilding Trading Co., Ltd. for the construction of one 47,499 dwt MR chemical/product oil tanker.

The aggregate purchase price for Roman Shark V was $6.5 million, of which $2.8 million has been settled in cash. The outstanding balance of $3.7 million was originally due on September 30, 2026. That payment deadline was extended on that date to October 31, 2026 and may be settled in cash or, at Rubico’s election, in newly-issued shares of Rubico’s existing series of Series G Convertible Preferred Shares.

The information contained in this Report is hereby incorporated by reference into the Registrant’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: October 15, 2026		/s/ Evangelos J. Pistiolis
		Evangelos J. Pistiolis
		Chief Executive Officer