Evangelos Pistiolis-led Top Ships has taken delivery of its latest newbuilding from Hyundai Vinsahin Shipyard in Vietnam while laying the groundwork for a possible share sale.

Top has hired Maxim to handle an at the market offering of up to $14.25m worth of common shares should it look to raise equity in the future.

Such filings are common practice for public companies and Top has not sold any new securities at this stage.