TOP Ships Inc. Enters Major Sale Agreement for Newbuilding Mega Yacht
ATHENS, Greece, Dec. 31, 2025—In a significant move within the maritime industry, TOP Ships Inc. (NYSE American: TOPS), a prominent name in the ownership and operation of modern, fuel-efficient “ECO” tanker vessels, has announced a pivotal agreement. The company has entered into a sale agreement (SPA) with Rubico Inc. for the sale of a vessel-owning company, which is currently tied to a shipbuilding contract for the luxurious M/Y Sanlorenzo 1150Exp. This new mega yacht, expected to be delivered from shipyard production by the second quarter of 2027, comes with a hefty price tag of $38 million.
The culmination of this agreement is anticipated to occur no later than March 31, 2026. An integral part of this process included negotiations by a special independent committee composed entirely of independent members of TOP Ships’ board of directors. In a move to ensure fairness and transparency, the committee sought and received an opinion from an independent financial advisor, giving stakeholders confidence in the transaction’s legitimacy.
About TOP Ships Inc.
TOP Ships Inc. has carved a niche for itself as an international company specializing in the ownership and operation of ocean-going vessels. The company primarily focuses on modern, eco-friendly tanker vessels designed to transport crude oil, petroleum products—both clean and dirty—as well as bulk liquid chemicals. With a commitment to fuel efficiency and sustainability, TOP Ships continues to adapt and innovate within the competitive maritime landscape. For more information about their extensive operations, visit TOP Ships’ official website.
Understanding Forward-Looking Statements
The announcement from TOP Ships also includes a cautionary note regarding forward-looking statements, aligning with provisions set out by the Private Securities Litigation Reform Act of 1995. The company emphasizes that certain statements within their release are forward-looking, encompassing plans, objectives, goals, and anticipated future performance. Terms like “believe,” “anticipate,” “intend,” and “project” signal these forward-looking elements, acknowledging the inherent uncertainties associated with business projections.
As these statements reflect expectations based on various assumptions—rooted in historical trends and data—the company urges stakeholders to understand the significant uncertainties that might impact their realizations. Although TOP Ships believes in the reasonableness of these assumptions at the time of their formation, the nature of such projections is subject to change based on unforeseen circumstances.
Risk Management and Investor Communication
Investors and interested parties are encouraged to review TOP Ships’ filings with the Securities and Exchange Commission for comprehensive insights into potential risks and uncertainties associated with the company’s operations. TOP Ships takes its obligations seriously regarding the disclosure of information and does not commit to updating forward-looking statements unless developments warrant such updates.
Contact Information
For those seeking additional information or clarification regarding this sale agreement or the company’s operations, Alexandros Tsirikos, the Chief Financial Officer of TOP Ships Inc., is available for inquiries. Interested parties can reach him by telephone at +30 210 812 8107 or via email at [email protected].
In navigating the complexities of the maritime sector, especially with emerging markets and luxury vessels, TOP Ships Inc. is positioning itself strategically with this agreement, catering to evolving demands while demonstrating its commitment to sustainability and responsible operations. With key projects like the M/Y Sanlorenzo 1150Exp on the horizon, the company is poised for an exciting future.