Performance Shipping’s shares lost most of their value on Friday after the New York-listed tanker owner priced a public offering of $8m in shares in a second move this year to raise equity.
The Andreas Michalopoulos-led owner of five aframax tankers priced 7.62m shares at $1.05 each at Friday’s market open.
Since then, the stock, which trades on the Nasdaq under the ticker symbol PSHG, has dropped 62% to $0.69
