UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT
TO RULE 13A-16 OR 15D-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2017
Commission File Number 001-37889
TOP SHIPS INC.
(Translation of registrant's name into English)
1 VAS. SOFIAS & MEG.
ALEXANDROU STREET
151 24, MAROUSSI
ATHENS, GREECE
(Address of principal executive offices)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ].
Note
: Regulation S-T Rule 101(b)(1)
only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ].
Note
: Regulation S-T Rule 101(b)(7)
only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign
private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled
or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the
registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has
not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of
a Form 6-K submission or other Commission filing on EDGAR.
INFORMATION CONTAINED IN THIS FORM 6-K
REPORT
TOP Ships Inc. (the "Company"), today announced that its
Board of Directors (the "Board") has determined to effect a 1-for-2 reverse stock split of the Company's common stock.
The Company's shareholders approved the reverse stock split and granted the Board the authority to determine the exact split ratio
and proceed with the reverse stock split at the Company's Annual General Meeting of Shareholders held on June 9, 2017.
The reverse stock split will take effect, and the Company's common
stock will begin trading on a split-adjusted basis on the NASDAQ Capital Market, as of the opening of trading on Friday, October
6, 2017 under the existing trading symbol "TOPS". The new CUSIP number for the Company's common stock will be Y8897Y
701.
When the reverse stock split becomes effective, every 2 shares of
the Company's issued and outstanding common stock will be automatically combined into one issued and outstanding share of common
stock without any change in the par value per share or the total number of authorized shares. This will reduce the number of outstanding
shares of the Company's common stock from approximately 15.6 million shares to approximately 7.8 million shares.
No fractional shares will be issued in connection with the reverse
split of the issued and outstanding common stock. Fractional shares that occur as a result of the reverse stock split will be rounded
down to the nearest whole share of the Company's common stock. Shareholders will receive instructions from the Company's exchange
agent, Computershare Trust Company N.A., as to how to exchange existing share certificates for new certificates representing the
post-reverse split shares.
Additional information about the reverse stock split can be found
in the Company's proxy statement furnished to the Securities and Exchange Commission on May 19, 2017, a copy of which is available
at www.sec.gov.
About TOP Ships Inc.
TOP Ships Inc. is an international ship-owning company.
For more information about TOP Ships Inc., visit its website: www.topships.org.
Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements
in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements,
which are other than statements of historical facts.
The Company desires to take advantage of the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe
harbor legislation. The words "believe," "anticipate," "intends," "estimate," "forecast,"
"project," "plan," "potential," "may," "should," "expect" "pending"
and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon
various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's
examination of historical operating trends, data contained in our records and other data available from third parties. Although
we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties
and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve
or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors
that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include
the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values,
failure of a seller to deliver one or more vessels or of a buyer to accept delivery of one or more vessels, inability to procure
acquisition financing, default by one or more charterers of our ships, changes in the demand for crude oil and petroleum products,
changes in demand for dry bulk shipping capacity, changes in our operating expenses, including bunker prices, drydocking and insurance
costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or
actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international
political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances
of off-hires and other factors. Please see our filings with the Securities and Exchange Commission for a more complete discussion
of these and other risks and uncertainties.
The information contained
in this report on Form 6-K is hereby incorporated by reference into the Company's registration statement on Form F-3 (File No.
333-215577) that was filed with the SEC and became effective on February 1, 2017.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
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TOP SHIPS INC.
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(Registrant)
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Dated: October 5, 2017
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By:
/s/ Evangelos Pistiolis
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Evangelos Pistiolis
Chief Executive Officer
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