Top Ships entered an agreement to sell a $10m promissory note to Kalani Investments, according to a securities filing.
The Nasdaq Capital Market-listed tanker owner said the note will mature 25 August 2017. The note has a 6% annual interest rate, which will accrue daily based on a 360-day year and will be paid on the maturity date.
The Evangelos Pistiolis-led company first became involved with Kalani through a common stock purchase agreement in February.
