TOP SHIPS INC. (TOPS) - Dilution Analysis
Visualizing historical and potential share dilution over time
Dilution Analysis
Risk Assessment Details
Summary
TOPS currently has 5.5M outstanding shares. with significant dilution risk as 54.1M authorized shares could dilute existing holders by 983.1%. The company has diluted shareholders by 18.91% over the past 2 years through share issuances.
Share Structure Timeline
Historical Data Points
| Date | Event | Outstanding | Supply |
|---|---|---|---|
| Apr 24, 2026 |
F-1 filing: This F-1 filing registers the resale of common shares by B. Riley Principal Capital II, LLC, acquired from TOP Ships Inc. under a purchase agreement. |
5.5M | 54M |
| Apr 01, 2026 |
20-F filing | 4.6M shares outstanding |
4.6M | 55M |
| Apr 14, 2025 |
20-F filing | 4.6M shares outstanding |
4.6M | 55M |
| Mar 29, 2024 |
20-F filing | 4.6M shares outstanding |
4.6M | 55M |
| Apr 03, 2023 |
20-F filing | 10.3M shares outstanding |
10M | 49M |
| Dec 22, 2022 |
POS AM filing: This POS AM filing relates to the offering of up to 6,750,000 common shares issuable upon exercise of warrants with an exercise price of $2.00 per share. |
10M | 49M |
| Nov 18, 2022 |
F-3 filing: This prospectus relates to the resale, from time to time, by the selling shareholders identified in this prospectus under the caption "Selling Shareholders," or the Selling Shareholders, of up to 1,072,725 of our common shares, par value $0.01 per share, including related preferred stock purchase rights, issuable upon exercise of certain outstanding warrants to purchase common shares, or the Warrants. |
3.5M | 58M |
| Sep 22, 2022 |
F-1 filing: TOP Ships Inc. is offering up to 2,000,000 Units on a best-efforts basis, at an assumed public offering price of $4.50 per Unit. Each Unit consists of one common share and one Class C Warrant. |
2.8M | 58M |
| Aug 31, 2022 |
F-3 filing: TOP Ships Inc. is filing an F-3 to offer common shares, preferred shares, debt securities, warrants, purchase contracts, rights, depositary shares, and units, with an aggregate offering price not to exceed $200,000,000. Additionally, this prospectus relates to the issuance of up to 4,374,000 common shares upon exercise of outstanding pre-funded warrants previously issued as part of the Company's public offering of units that was completed on June 7, 2022. |
52M | 6.3M |
| Jul 01, 2022 |
F-1 filing: This F-1 filing relates to the resale of up to 14,303,000 common shares issuable upon exercise of warrants by the selling shareholders of TOP Ships Inc. |
47M | 7M |
| Apr 15, 2022 |
20-F filing | 39.8M shares outstanding |
40M | 0 |
| Apr 23, 2021 |
20-F filing | 0.3M shares outstanding |
350K | 0 |
| Apr 10, 2020 |
20-F filing | 8.7M shares outstanding |
8.7M | 0 |