The move comes after shares in Top Ships ended yesterday at $1.28 each, a low not seen since April last year.
Evangelos Pistiolis-led TOPS will roll every seven units of common stock into one new unit from the opening bell on Monday.
Following the move the outstanding number of common stock will be slashed from 58.2 million to 8.3 million shares.
Shareholders approved the plan in February but the board had not decided on the split ratio.
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