Family Trading Inc. has announced a decrease in its beneficial ownership of Top Ships Inc. This change follows the issuance of 992,064 common shares by Top Ships on October 28, 2026, as part of a securities purchase agreement with an institutional investor. The decrease in ownership is significant as it reflects ongoing changes in the dynamics of the shipping industry.

Family Trading Inc., which is incorporated in the Marshall Islands, filed this update on October 29, 2026, as part of its Schedule 13D/A. The filing indicates that Family Trading holds approximately 21.95% of Top Ships' outstanding shares, down from previous levels. This shift in ownership may have implications for both companies as they adapt to market conditions.

Background

Family Trading Inc. is a company incorporated in the Marshall Islands, with a focus on investment activities. The company is represented by its Vice President and Director, Pinelopi Athanasia Platsouka. The recent filing is part of a series of amendments to its Schedule 13D, with the latest being the 45th amendment.

Top Ships Inc., the subject of this filing, is engaged in deep sea foreign transportation of freight. The company is also incorporated in the Marshall Islands and has a significant presence in the shipping industry.

What the Filing Says

The filing states, "This Amendment No. 45 is being filed to reflect a decrease in beneficial ownership of Common Shares... as a result of the issuance of 992,064 Common Shares by the Issuer on October 28, 2026." This indicates that the issuance of new shares has diluted the ownership percentage of Family Trading and its associated entities.

Impact

This decrease in ownership may affect the influence that Family Trading and its affiliates have over Top Ships Inc. Family Trading is reported to beneficially own 2,930,718 shares, while 3 Sororibus Trust, which is tied to the family of Top Ships' President, Evangelos J. Pistiolis, holds the same number of shares. The filing reveals that Pistiolis himself owns 440,711 shares, representing 3.30% of the outstanding shares.

What's Next

The filing does not say what happens next. However, the ongoing adjustments in ownership could lead to strategic changes within Top Ships and its operations in the competitive shipping sector.