SEC Form 4 · accession 0001179110-16-029011
TOP SHIPS INC. · TOPS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ronin Capital, LLC
10% Owner
Period of report
Jun 13, 2016
Accepted (ET)
Aug 25, 2016 · 4:34 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001296484
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jun 13, 2016 | S | 597 | $2.055 | D | 82,900 | D | |
| Common StockF2 | Jun 14, 2016 | S | 3,300 | $1.955 | D | 79,600 | D | |
| Common Stock | Jun 16, 2016 | S | 300 | $2.00 | D | 79,300 | D | |
| Common StockF3 | Jul 20, 2016 | S | 14,700 | $2.125 | D | 64,600 | D | |
| Common StockF4 | Jul 21, 2016 | S | 64,600 | $3.45 | D | 0 | D | |
| Common Stock | Aug 12, 2016 | X | 111,250 | $2.80 | A | 111,250 | D | |
| Common StockF6 | Aug 23, 2016 | S | 9,869 | $3.815 | D | 101,381 | D | |
| Common StockF7 | Aug 24, 2016 | S | 45,000 | $4.15 | D | 56,381 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Warrants to Purchase Common StockF5 | $2.80 | Aug 12, 2016 | X | 125,000 | D | Jun 11, 2014 | Jun 11, 2019 | Common Stock | 111,250 | 500,000 | D |
Explanation of responses
- F1This transaction was executed in multiple trades at prices ranging from $2.05 to $2.06. The price reported above reflects the average purchase price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
- F2This transaction was executed in multiple trades at prices ranging from $1.95 to $1.96. The price reported above reflects the average purchase price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
- F3This transaction was executed in multiple trades at prices ranging from $2.00 to $2.25. The price reported above reflects the average purchase price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
- F4This transaction was executed in multiple trades at prices ranging from $2.90 to $4.00. The price reported above reflects the average purchase price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
- F5Each warrant is exercisable for 0.89 shares of common stock. After giving effect to the exercise of 125,000 warrants to purchase 111,250 shares of common stock on August 12, 2016, the reporting person beneficially owns 500,000 warrants to purchase 445,000 shares of common stock.
- F6This transaction was executed in multiple trades at prices ranging from $3.76 to $3.87. The price reported above reflects the average purchase price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
- F7This transaction was executed in multiple trades at prices ranging from $3.90 to $4.40. The price reported above reflects the average purchase price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.