New York-listed Performance Shipping has ditched one form of equity raise for another as it attempts to sell shares worth a net of $9m in the open market.
The owner of five aframax tankers, formerly known as Diana Containerships, is seeking to more than double its current count of outstanding shares in a deal led by the Maxim Group.
At the same time it is suspending an “at the market” stock-sales agreement it had put in place with investment bank HC Wainwright on 5 March.
