Performance Shipping, known formerly as Diana Containerships, has closed an issuance of preferred securities that will give the company a fresh start as a debt-free entity.
The company's Series B-2 preferred warrants, which are exercisable for Series B-2 preferred shares, expired on Sunday in accordance with their terms.
Exercise of the warrants has generated $6.5m in gross proceeds for Performance, according to Simeon Palios, Performance's director, chief executive and chairman.
