Top sold 10 million shares and warrants with the rights to 5 million more to complete a deal which first come to light last week.
Underwriters have taken options on 330,000 of the warrants available out of a total of 750,000, a statement said.
Evangelos Pistiolis, chief executive of Top Ships, tells TradeWinds the capital raise could cover its present newbuilding commitments, depending on what loan financing can be secured.
