According to the letter of intent, TOP Ships secured exclusive right and option to purchase part or all of a real estate portfolio with an estimated value of over 200 million dollars.
The acquisition price upon exercising the right will be 10% lower than the fair value resulting from two independent appraisals.
By December 31, 2025, TOP Ships will pay a deposit of 23.5 million dollars, which will be offset or refunded if the purchase is not completed. The special committee of independent members of the Board of Directors will evaluate the transaction within 90 days.
