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Performance Shipping Inc. Announces Expiration of Series B-2 Preferred Warrants

Performance Shipping Inc., a global shipping company specializing in the ownership of containerships, announced that its Series B-2 Preferred Warrants that are exercisable for Series B-2 Preferred Shares expired in accordance with their terms on March 24, 2019.

As of the date hereof, the Company has 26,753,851 issued and outstanding Common Shares and 2,000 Series B-2 Preferred Shares issued and outstanding. No additional Series B-2 Preferred Shares may be issued after the date hereof.

Mr. Symeon Palios, Director, Chief Executive Officer and Chairman of the Board, commented that:

“After the expiration of the Series B-2 Preferred Warrants, the Company is now set on a new start, as the Company’s fleet currently comprises of four unencumbered vessels, with zero debt outstanding. In addition to this, the Company’s available cash amounted to US$10.5 million, as of December 31, 2018 and since then, the Company collected an additional US$6.5 million of gross proceeds from the exercise of Series B-2 Preferred Warrants.”

Performance Shipping Inc. is a global provider of shipping transportation services through its ownership of containerships. The Company’s vessels are employed primarily on time charters with leading liner companies carrying containerized cargo along worldwide shipping routes.
Source: Performance Shipping Inc.

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