<SEC-DOCUMENT>0000919574-19-001995.txt : 20190226
<SEC-HEADER>0000919574-19-001995.hdr.sgml : 20190226
<ACCEPTANCE-DATETIME>20190225204907
ACCESSION NUMBER:		0000919574-19-001995
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20190228
FILED AS OF DATE:		20190226
DATE AS OF CHANGE:		20190225

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TOP SHIPS INC.
		CENTRAL INDEX KEY:			0001296484
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37889
		FILM NUMBER:		19631371

	BUSINESS ADDRESS:	
		STREET 1:		1, VASSILISSIS SOFIAS STR. & MEG.
		STREET 2:		ALEXANDROU STR.
		CITY:			151 24, MAROUSSI
		STATE:			J3
		ZIP:			00000
		BUSINESS PHONE:		011-30-210-81-28-107

	MAIL ADDRESS:	
		STREET 1:		1, VASSILISSIS SOFIAS STR. & MEG.
		STREET 2:		ALEXANDROU STR.
		CITY:			151 24, MAROUSSI
		STATE:			J3
		ZIP:			00000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TOP TANKERS INC.
		DATE OF NAME CHANGE:	20040706
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
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<FILENAME>d8204046_6-k.htm
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      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">UNITED STATES</div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</font></div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Washington, D.C.&#160; 20549</font></div>
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      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">FORM 6-K</font></div>
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    <div style="background-color: #FFFFFF;">
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16<font style="font-size: 10pt; font-family: 'Times New
            Roman', Times, serif;"><br>
          </font>OF THE SECURITIES EXCHANGE ACT OF 1934</font></div>
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      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">For the month of February 2019</font></div>
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      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Commission File Number 001-37889</font></div>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">TOP SHIPS INC.</font></div>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(Translation of registrant's name into English)</font></div>
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              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">1 VAS. SOFIAS &amp; MEG.</font></div>
              <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">ALEXANDROU STREET</font></div>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">151 24, MAROUSSI</font></div>
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">ATHENS, GREECE</font></div>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(Address of principal executive offices)</font></div>
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      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</font></div>
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      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Form 20-F [X]&#160; &#160; &#160;&#160; Form 40-F [&#160; ]</font></div>
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      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [&#160; ].</font></div>
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      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Note</font>: Regulation S-T Rule 101(b)(1)
          only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.</font></div>
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      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [&#160; ].</font></div>
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      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Note</font>: Regulation S-T Rule 101(b)(7)
          only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is
          incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is
          not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.</font></div>
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    <div style="text-align: center; margin-top: 3pt; margin-bottom: 3pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">INFORMATION CONTAINED IN THIS FORM 6-K REPORT</font></div>
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      <div style="text-align: left; text-indent: 24.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">TOP Ships Inc. (the "Company") announced today that it has entered into a Lock-Up Agreement (the "Agreement") related to
          that certain Common Stock Purchase Warrant dated January 11, 2019, as amended, with an exercise price of $0.70 per common share of the Company, par value $0.01 per share (the "Warrant").&#160; Pursuant to the terms of the Agreement, the Company has
          agreed to refrain from selling the Company's common shares for thirty calendar days as described in the Agreement attached hereto in order to induce the holder of the Warrant to exercise all of the outstanding 832,715 Warrant Shares.</font></div>
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      </div>
      <div style="text-align: left; text-indent: 24.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Maxim Group LLC acted as financial advisor to Company.</font></div>
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      <div style="text-align: left; text-indent: 24.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Attached as Exhibit 99.1 to this report on Form 6-K is the Agreement.</font></div>
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      <div style="text-align: left; text-indent: 24.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">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. 333-215577) that was filed with the SEC and became effective on February 1, 2017.</font></div>
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    <div style="text-align: center; margin-top: 3pt; margin-bottom: 3pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SIGNATURES</font></div>
    <div style="text-align: left; text-indent: 36pt; margin-top: 3pt; margin-bottom: 3pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">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.</font></div>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">TOP SHIPS INC.</font></div>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(registrant)</font></div>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Dated: February 25, 2019</font></div>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">By:</font></div>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">/s/ Evangelos J. Pistiolis</font></div>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Evangelos J. Pistiolis</font></div>
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            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Chief Executive Officer</font></div>
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    <div style="text-align: right; margin-top: 3pt; margin-bottom: 3pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>EXHIBIT 99.1</u></font></font></div>
    <div style="text-align: right; margin-top: 3pt; margin-bottom: 3pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u> <br>
          </u></font></font></div>
    <div style="text-align: left; margin-bottom: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> </font>
      <div style="text-align: center; margin-bottom: 12pt;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><u>Lock-Up Agreement</u></font></div>
      <div style="margin-bottom: 12pt;"><br>
      </div>
      <div style="text-align: center; text-indent: 36pt; margin-left: 144pt; margin-bottom: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">February 25, 2019</font></div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><br>
          <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><br>
          </font>CVI Investments Inc.</font></div>
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="background-color: #FFFFFF; font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;c/o Heights Capital Management Inc.</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><br>
          </font><font style="background-color: #FFFFFF; font-size: 10pt; font-family: 'Times New Roman', Times, serif;">101 California St.</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><br>
          </font><font style="background-color: #FFFFFF; font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Suite 3250</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><br>
          </font><font style="background-color: #FFFFFF; font-size: 10pt; font-family: 'Times New Roman', Times, serif;">San Francisco, CA 94111</font></font></div>
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      <div style="text-align: center; margin-bottom: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>TOP Ships Inc. Lock-Up Agreement</u></font></font></div>
      <div style="text-align: left; margin-bottom: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Ladies and Gentlemen:</font></div>
      <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">This letter agreement (this "Agreement") relates to that certain Common Stock Purchase Warrant,
          dated as of January 11, 2019 (the <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">"Warrant"</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;
            font-style: italic;">), </font>issued by<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">&#160;</font>TOP Ships Inc., a corporation organized and existing under the laws of the Republic of the
          Marshall Islands (the <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">"Company"</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style:
            italic;">), </font>to CVI Investments, Inc., or its assigns (the "<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Holder</font>")<font style="font-size: 10pt; font-family:
            'Times New Roman', Times, serif; font-style: italic;">. </font>Capitalized terms not otherwise defined herein shall have the meaning set forth in the Warrant.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">In order to induce the Holder to exercise all of the outstanding 832,715 Warrant Shares, the
          Company hereby agrees that during the period from the date hereof until thirty (30) calendar days from the date of hereof (the "Lock-Up Period"), the Company (a) will not, directly or indirectly, offer, sell, agree to offer or sell, solicit
          offers to purchase, or make any announcement with an intention to sell any common shares of the Company (the "Shares"), and (b) will ensure that none of the outstanding warrants of the Company issued in June 2014 and held by affiliates are
          exercised.</font></div>
      <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The undersigned hereby represents and warrants that the undersigned has full power and authority to
          enter into this Agreement and that this Agreement constitutes the legal, valid and binding obligation of the undersigned, enforceable in accordance with its terms.&#160; Upon request, the undersigned will execute any additional documents necessary in
          connection with enforcement hereof.&#160; Any obligations of the undersigned shall be binding upon the successors and assigns of the undersigned from the date first above written.</font></div>
      <div style="margin-bottom: 12pt;"><br>
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      <div style="text-align: justify; text-indent: 72pt; margin-bottom: 24pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">This Agreement shall be governed by and construed in accordance with the laws of the State of New
          York.&#160; Delivery of a signed copy of this letter by facsimile transmission shall be effective as delivery of the original hereof.</font></div>
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              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Very truly yours,</font></div>
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