Shares of Greek owner Top Ships plummeted more than 50% this morning after the company announced it would conduct another warrants-fueled follow-on sale of stock.
The stock was hovering around $1.23 in early trading on the Nasdaq, down some 56% on the previous close of $2.84.
It is the second time in two months Top has carried out such a a sale using warrants as an incentive to buyers, both times using investment bank Maxim as the underwriter.
