Top Ships Inc. (NYSE American: $TOPS ) announced a management estimate of net asset value of $359.2 million as of June 30, 2026, a 24% increase from the NAV reported on March 10, 2026. The estimate, which accounts for June 30, 2026 charter-free vessel values from third-party international brokers, debt outstanding, and cash, translates to $47.19 per common share, and $12.49 per share on a fully diluted basis.
TOP Ships is a B2i Digital Featured Company. See the company's profile at https://b2idigital.com/top-ships.
President and CEO Evangelos J. Pistiolis said: "As of the last market close, we are trading at a 94% discount to our current estimate of our fully-diluted NAV. Our fleet has an average age of approximately 5.2 years, consisting of state-of-the-art vessels equipped with the latest eco-friendly and fuel-efficient specifications."
Key highlights:
- Estimated NAV of $359.2 million as of June 30, 2026 — up 24% from the previously reported NAV
- NAV of $47.19 per common share on an outstanding-shares basis; $12.49 per share fully diluted, assuming conversion of all outstanding convertible preferred shares and exercise of all outstanding warrants
- The Company's fleet has an average age of approximately 5.2 years, with the latest eco-friendly and fuel-efficient specifications
- Newbuilding pipeline includes eight high-specification 47,499 dwt MR tanker newbuildings, scheduled for delivery from Q2 2028 to Q4 2029
- As previously announced, the Company intends to sell the megayacht M/Y Para Bellvm and exit the megayacht sector, aiming to release capital — expected to be a multiple of its current market capitalization — for redeployment into its core tanker business
Read the full release: https://www.globenewswire.com/news-release/2026/07/27/3333529/14465/en/TOP-Ships-Inc-Announces-Management-Estimate-of-Net-Asset-Value-of-359-2-Million-a-24-Increase-from-the-Previously-Reported-NAV.html
TOP Ships Inc. (NYSE American: TOPS) is an international owner and operator of ocean-going vessels focusing on modern, fuel-efficient eco tanker vessels transporting crude oil, petroleum products, and bulk liquid chemicals. The Company is headquartered in Athens, Greece, and is led by President and CEO Evangelos J. Pistiolis.
Learn more at https://www.topships.org.
Discover more emerging growth Featured Companies, industry-leading Featured Experts, and upcoming Featured Conferences at https://b2idigital.com/featured-companies.
Disclosure: TOP Ships is a B2i Digital Featured Company. B2i Digital is not a registered broker-dealer, investment adviser, or financial adviser. This post references a company press release containing forward-looking statements regarding estimated net asset values, newbuilding acquisitions, and the intended divestment of the Company's megayacht, subject to risks and uncertainties. This post is informational only and not an offer, solicitation, or recommendation regarding any security.
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