<SEC-DOCUMENT>0001140361-22-044454.txt : 20221205
<SEC-HEADER>0001140361-22-044454.hdr.sgml : 20221205
<ACCEPTANCE-DATETIME>20221205160405
ACCESSION NUMBER:		0001140361-22-044454
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20221205
DATE AS OF CHANGE:		20221205

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Performance Shipping Inc.
		CENTRAL INDEX KEY:			0001481241
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-255100
		FILM NUMBER:		221444944

	BUSINESS ADDRESS:	
		STREET 1:		373 SYNGROU AVE.
		STREET 2:		17564 PALAIO FALIRO
		CITY:			ATHENS
		STATE:			J3
		ZIP:			00000
		BUSINESS PHONE:		302166002400

	MAIL ADDRESS:	
		STREET 1:		373 SYNGROU AVE.
		STREET 2:		17564 PALAIO FALIRO
		CITY:			ATHENS
		STATE:			J3
		ZIP:			00000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Diana Containerships Inc.
		DATE OF NAME CHANGE:	20100115
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>brhc10045106_424b3.htm
<DESCRIPTION>424B3
<TEXT>
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        <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">Filed Pursuant to Rule 424(b)(3)</div>
      </div>
      <div>
        <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;">Registration No. 333-255100</div>
      </div>
      <div>
        <div><br>
        </div>
        <div style="color: rgb(0, 0, 0); font-weight: bold;">PROSPECTUS SUPPLEMENT NO. 20</div>
        <div style="color: rgb(0, 0, 0); font-weight: bold;">(TO PROSPECTUS DATED MAY 27, 2022)</div>
        <div><br>
        </div>
      </div>
      <div>
        <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">7,620,000</div>
        <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Units consisting of</div>
        <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Common Shares or</div>
        <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Pre-Funded Warrants to Purchase Common Shares and</div>
        <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Class A Warrants to Purchase Common Shares</div>
        <div style="text-align: center; color: #000000; font-weight: bold;"> <br>
        </div>
        <div style="text-align: center; color: rgb(0, 0, 0);"><img src="image00001.jpg">
          <div><br>
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        <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Performance Shipping Inc.</div>
      </div>
      <div>
        <div><br>
        </div>
        <div>
          <div>
            <div style="text-align: justify; text-indent: 36pt; color: #000000;">This is a supplement (&#8220;Prospectus Supplement&#8221;) to the prospectus, dated May 27, 2022 (&#8220;Prospectus&#8221;) of Performance Shipping Inc. (the &#8220;Company&#8221;), which forms a part of the
              Company&#8217;s Registration Statement on Form F-1 (Registration No. 333-255100).</div>
          </div>
          <div>
            <div><br>
            </div>
          </div>
          <div>
            <div style="text-align: justify; text-indent: 36pt; color: #000000;">On December 5, 2022, the Company filed a Current Report on Form 6-K with the Commission as set forth below.</div>
          </div>
          <div>
            <div style="text-indent: 36pt;"><br>
            </div>
          </div>
          <div>
            <div style="text-align: justify; text-indent: 36pt; color: #000000;">This Prospectus Supplement should be read in conjunction with, and delivered with, the Prospectus and is qualified by reference to the Prospectus except to the extent that the
              information in this Prospectus Supplement supersedes the information contained in the Prospectus.</div>
          </div>
          <div>
            <div style="text-indent: 36pt;"><br>
            </div>
          </div>
          <div>
            <div style="text-align: justify; text-indent: 36pt; color: #000000;">This Prospectus Supplement is not complete without, and may not be delivered or utilized except in connection with, the Prospectus, including any amendments or supplements to
              it.</div>
            <div><br>
            </div>
            <div style="text-align: justify; text-indent: 36pt; color: #000000; font-weight: bold;">Investing in our securities involves a high degree of risk. See &#8220;<u>Risk Factors</u>&#8221; beginning on page 6 of the Prospectus for a discussion of information
              that should be considered in connection with an investment in our securities.</div>
          </div>
          <div>
            <div><br>
            </div>
          </div>
          <div>
            <div style="text-align: justify; text-indent: 36pt; color: #000000; font-weight: bold;">Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this
              prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</div>
          </div>
        </div>
        <div><br>
        </div>
      </div>
      <div>
        <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">The date of this prospectus supplement is December 5, 2022.</div>
      </div>
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      <div>
        <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM 6-K</div>
        <div><br>
        </div>
        <div style="text-align: center; font-size: 14pt;">SECURITIES AND EXCHANGE COMMISSION</div>
        <div style="text-align: center; font-size: 12pt;">Washington, D.C. 20549</div>
        <div style="margin-right: 29.1pt; margin-left: 27.5pt;"> <br>
        </div>
        <div style="text-align: center; font-weight: bold;">Report of Foreign Private Issuer</div>
        <div style="text-align: center; font-weight: bold;">Pursuant to Rule 13a-16 or 15d-16 of</div>
        <div style="text-align: center; font-weight: bold;">the Securities Exchange Act of 1934</div>
        <div style="text-align: center; margin-right: 29.1pt; margin-left: 27.5pt;"> <br>
        </div>
        <div style="text-align: center; font-weight: bold;">For the month of December 2022</div>
        <div><br>
        </div>
        <div style="text-align: center;">Commission File Number: 001-35025</div>
        <div style="margin-right: 29.1pt; margin-left: 27.5pt;"> <br>
        </div>
        <div style="text-align: center; font-size: 24pt; font-weight: bold;">PERFORMANCE SHIPPING INC.</div>
        <div style="text-align: center;">(Translation of registrant's name into English)</div>
        <div style="margin-right: 29.1pt; margin-left: 27.5pt;"> <br>
        </div>
        <div style="text-align: center; color: rgb(0, 0, 0);">373 Syngrou Avenue</div>
        <div style="text-align: center; color: rgb(0, 0, 0);">175 64 Palaio Faliro</div>
        <div style="text-align: center;">Athens, Greece</div>
        <div style="text-align: center;">(Address of principal executive office)</div>
        <div style="margin-right: 29.1pt; margin-left: 27.5pt;"> <br>
        </div>
        <div>Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:</div>
        <div> <br>
        </div>
        <div style="text-align: center; font-weight: bold;">Form 20-F &#9746; Form 40-F &#9744;</div>
        <div style="text-align: center; font-weight: bold;"> <br>
        </div>
        <div>Indicate by check mark if the registrant is submitting the Form 6-K in paper as</div>
        <div>permitted by Regulation S-T Rule 101(b)(1): ___</div>
        <div><br>
        </div>
        <div>Note: 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.</div>
        <div><br>
        </div>
        <div>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: ___</div>
        <div><br>
        </div>
        <div>Note: 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.</div>
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        <div style="text-align: center; margin-right: 29.1pt; margin-left: 27.5pt; color: #000000; font-weight: bold;">INFORMATION CONTAINED IN THIS FORM 6-K REPORT</div>
        <div><br>
        </div>
        <div style="text-align: justify; color: rgb(0, 0, 0);">Attached to this Report on Form 6-K as Exhibit 99.1 is a copy of the press release of the Company dated December 5, 2022 titled &#8220;Performance Shipping Inc. Announces Delivery of the Aframax
          Tanker, M/T P. Monterey&#8221;.</div>
        <div><br>
        </div>
        <div style="text-align: justify; color: rgb(0, 0, 0);">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 &#8220;SEC&#8221;) with an effective date of August 13, 2014, and the Company&#8217;s registration statement on Form F-3 (File No. 333-237637), filed with the SEC with an effective date of April 23, 2020.</div>
        <div style="text-align: justify; color: rgb(0, 0, 0);"> <br>
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        <div style="text-align: center; margin-right: 12.6pt; margin-left: 27.5pt; color: #000000; font-weight: bold;">SIGNATURES</div>
        <div><br>
        </div>
        <div style="text-align: justify; color: rgb(0, 0, 0);">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.</div>
        <div style="text-align: justify; color: rgb(0, 0, 0);"><br>
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;" id="zeaff29ebdce44931bd08a5cf793cb08e">

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                <td style="width: 50%;" colspan="1">
                  <div>&#160;</div>
                </td>
                <td style="width: 50%;" colspan="1">
                  <div>
                    <div style="text-align: left; font-weight: bold;">PERFORMANCE SHIPPING INC.</div>
                  </div>
                  <div>(Registrant)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%;" rowspan="1">&#160;</td>
                <td style="width: 50%;" rowspan="1">&#160;</td>
              </tr>
              <tr>
                <td style="width: 50%;">
                  <div>
                    <div style="text-align: left;">Dated: December 5, 2022</div>
                  </div>
                </td>
                <td style="width: 50%;">
                  <div>&#160;</div>
                </td>
              </tr>
              <tr>
                <td rowspan="1" style="width: 50%;">&#160;</td>
                <td rowspan="1" style="width: 50%;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 50%;">
                  <div>&#160;</div>
                </td>
                <td style="width: 50%;">
                  <div><u>/s/ Andreas Michalopoulos</u></div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%;">
                  <div>&#160;</div>
                </td>
                <td style="width: 50%;">
                  <div>By: Andreas Michalopoulos</div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%;">
                  <div>&#160;</div>
                </td>
                <td style="width: 50%;">
                  <div>
                    <div style="text-align: left;">Chief Executive Officer</div>
                  </div>
                </td>
              </tr>

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            <div style="text-align: right;"><font style="font-weight: bold;"> Exhibit 99.1</font></div>
            <div style="text-align: right;"><br>
            </div>
            <div style="text-align: right;">
              <table cellspacing="0" cellpadding="0" border="0" id="z1ddb86f6c4c44297b8fafe3167256f95" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

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                    <td style="width: 50%; vertical-align: top;">&#160;</td>
                    <td style="width: 50%; vertical-align: top;">
                      <div style="font-style: italic; font-weight: bold;">Corporate Contact:</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 50%; vertical-align: top;">&#160;</td>
                    <td style="width: 50%; vertical-align: top;">
                      <div>Andreas Michalopoulos</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 50%; vertical-align: top;">&#160;</td>
                    <td style="width: 50%; vertical-align: top;">
                      <div>Chief Executive Officer, Director and Secretary</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 50%; vertical-align: top;">&#160;</td>
                    <td style="width: 50%; vertical-align: top;">
                      <div>Telephone: +30-216-600-2400</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 50%; vertical-align: top;">&#160;</td>
                    <td style="width: 50%; vertical-align: top;">
                      <div style="text-align: justify;">Email: <u>amichalopoulos@pshipping.com</u></div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 50%; vertical-align: top;">
                      <div><br>
                      </div>
                    </td>
                    <td style="width: 50%; vertical-align: top;">
                      <div>Website: <u>www.pshipping.com</u></div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 50%; vertical-align: top;">
                      <div>For Immediate Release</div>
                    </td>
                    <td style="width: 50%; vertical-align: top;">&#160;</td>
                  </tr>
                  <tr>
                    <td style="width: 50%; vertical-align: top;">&#160;</td>
                    <td style="width: 50%; vertical-align: top;">
                      <div style="font-style: italic; font-weight: bold;">Investor and Media Relations:</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 50%; vertical-align: top;">&#160;</td>
                    <td style="width: 50%; vertical-align: top;">
                      <div>Edward Nebb</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 50%; vertical-align: top;">&#160;</td>
                    <td style="width: 50%; vertical-align: top;">
                      <div>Comm-Counsellors, LLC</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 50%; vertical-align: top;">&#160;</td>
                    <td style="width: 50%; vertical-align: top;">
                      <div>Telephone: + 1-203-972-8350</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 50%; vertical-align: top;">&#160;</td>
                    <td style="width: 50%; vertical-align: top;">
                      <div>Email: <u>enebb@optonline.net</u></div>
                    </td>
                  </tr>

              </table>
              <div>&#160;</div>
              <div style="text-align: center; font-weight: bold;">PERFORMANCE SHIPPING INC. ANNOUNCES DELIVERY OF THE AFRAMAX TANKER, M/T P. MONTEREY</div>
              <div>&#160;</div>
              <div style="text-align: justify;">ATHENS, Greece, December 5, 2022 - Performance Shipping Inc. (NASDAQ: PSHG) (&#8220;we&#8221; or the &#8220;Company&#8221;), a global shipping company specializing in the ownership of tanker vessels, announced that, through a
                separate wholly-owned subsidiary, it has taken delivery of the M/T P. Monterey (formerly &#8220;Phoenix Beacon&#8221;), a 2011-built Aframax tanker vessel of 105,525 dwt that the Company entered into an agreement to purchase in September 2022.</div>
              <div>&#160; <br>
              </div>
              <div style="text-align: justify;">As previously announced, the M/T P. Monterey was acquired for a total purchase price of US$35 million and partially financed through the recently announced term loan facility with Piraeus Bank S.A. Following
                the delivery, as previously disclosed, the vessel will commence a time charter contract with ST Shipping &amp; Transport Pte Ltd., a wholly-owned subsidiary of Glencore, at a daily rate of US$32,000 per day for a period of twenty-four (24)
                months +/- 45 days at the option of the charterer.</div>
              <div>&#160; <br>
              </div>
              <div style="text-align: justify;">The M/T P. Monterey is equipped with a ballast water treatment system (BWTS), and its next scheduled special survey is not due until 2026. The vessel is the third vessel delivered to the Company during the
                course of this year.</div>
              <div>&#160; <br>
              </div>
              <div style="text-align: justify;">The Company&#8217;s fleet currently consists of seven (7) Aframax tanker vessels and one (1) Aframax tanker vessel expected to be delivered within December.</div>
              <div>&#160;</div>
              <div style="text-align: justify;">Commenting on this delivery, Andreas Michalopoulos, the Company&#8217;s Chief Executive Officer, stated:</div>
              <div>&#160; <br>
              </div>
              <div style="text-align: justify;">&#8220;The acquisition of the M/T P. Monterey marks another important milestone for our Company. In the short span of six months and following the delivery of our most recent acquisition later this month, the M/T
                P. Long Beach, our initial five-vessel fleet will have nearly doubled in size and will consist of eight modern, high specification Aframax tankers. As previously announced, the employment of the M/T P. Monterey will generate approximately
                US$22 million of gross revenue for the minimum duration of the charter, thereby contributing to our fleet-wide base of secured revenues of approximately US$85 million. We expect to further supplement this steady cashflow through the
                operation of our remaining tankers in the spot market, which we believe demonstrates sustainably strong fundamental conditions, as voyage charter rates for Aframax tankers are currently at historically high levels.&#8221;</div>
              <div style="text-align: left;">&#160; <br>
              </div>
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              </div>
              <div style="text-align: justify; font-weight: bold;">About the Company</div>
              <div>&#160;</div>
              <div style="text-align: justify;">Performance Shipping Inc. is a global provider of shipping transportation services through its ownership of tanker vessels. The Company employs its fleet on spot voyages, through pool arrangements and on time
                charters.</div>
              <div>&#160;</div>
              <div style="text-align: justify; font-weight: bold;">Cautionary Statement Regarding Forward-Looking Statements</div>
              <div>&#160;</div>
              <div style="text-align: justify;">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, but are not limited to, 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 with respect to the delivery of the vessels we have agreed to acquire.</div>
              <div>&#160;</div>
              <div style="text-align: justify;">The words &#8220;believe,&#8221; &#8220;anticipate,&#8221; &#8220;intends,&#8221; &#8220;estimate,&#8221; &#8220;forecast,&#8221; &#8220;project,&#8221; &#8220;plan,&#8221; &#8220;potential,&#8221; &#8220;will,&#8221; &#8220;may,&#8221; &#8220;should,&#8221; &#8220;expect,&#8221; &#8220;targets,&#8221; &#8220;likely,&#8221; &#8220;would,&#8221; &#8220;could,&#8221; &#8220;seeks,&#8221; &#8220;continue,&#8221; &#8220;possible,&#8221;
                &#8220;might,&#8221; &#8220;pending&#8221; and similar expressions, terms or phrases may identify forward-looking statements.</div>
              <div>&#160;</div>
              <div style="text-align: justify;">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&#8217;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.</div>
              <div>&#160;</div>
              <div style="text-align: justify;">In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not
                limited to: the strength of world economies, fluctuations in currencies and interest rates, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in the tanker shipping industry, changes in
                the supply of vessels, changes in worldwide oil production and consumption and storage, changes in our operating expenses, including bunker prices, crew costs, drydocking and insurance costs, our future operating or financial results,
                availability of financing and refinancing including with respect to vessels we agree to acquire, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future
                litigation, general domestic and international political conditions, the length and severity of epidemics and pandemics, including the ongoing outbreak of the novel coronavirus (COVID-19) and its impact on the demand for seaborne
                transportation of petroleum and other types of products, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international
                political conditions or events, including &#8220;trade wars&#8221;, armed conflicts including the war in Ukraine, the imposition of new international sanctions, acts by terrorists or acts of piracy on ocean-going vessels, potential disruption of
                shipping routes due to accidents, labor disputes or political events, vessel breakdowns and instances of off-hires and other important factors. Please see our filings with the U.S. Securities and Exchange Commission for a more complete
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