-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PS2JRWaHLh3Oq4aAQOTM9p2WzK0MaO36Jmllqto3CmlqpZEEEN26Wk7H4HL2/H0M OLIeOmSFBz28x771qqk/MA== 0001193125-08-110087.txt : 20080512 0001193125-08-110087.hdr.sgml : 20080512 20080509180802 ACCESSION NUMBER: 0001193125-08-110087 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080512 DATE AS OF CHANGE: 20080509 GROUP MEMBERS: QVT OVERSEAS LTD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: TOP SHIPS INC. CENTRAL INDEX KEY: 0001296484 STANDARD INDUSTRIAL CLASSIFICATION: DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-79968 FILM NUMBER: 08820074 BUSINESS ADDRESS: STREET 1: 1, VASSILISSIS SOFIAS STR. & MEG. STREET 2: ALEXANDROU STR. CITY: 151 24, MAROUSSI STATE: J3 ZIP: 00000 BUSINESS PHONE: 011-30-210-81-28-107 MAIL ADDRESS: STREET 1: 1, VASSILISSIS SOFIAS STR. & MEG. STREET 2: ALEXANDROU STR. CITY: 151 24, MAROUSSI STATE: J3 ZIP: 00000 FORMER COMPANY: FORMER CONFORMED NAME: TOP TANKERS INC. DATE OF NAME CHANGE: 20040706 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: QVT Associates GP LLC CENTRAL INDEX KEY: 0001290166 IRS NUMBER: 010798253 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 1177 AVENUE OF THE AMERICAS STREET 2: 9TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 212-705-8800 MAIL ADDRESS: STREET 1: 1177 AVENUE OF THE AMERICAS STREET 2: 9TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10036 SC 13G/A 1 dsc13ga.htm SCHEDULE 13G AMENDMENT NO. 3 Schedule 13G Amendment No. 3

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934

(Amendment No. 3)*

 

 

 

 

Top Ships Inc.

(Name of Issuer)

 

 

Common Stock, $0.01 par value

(Title of Class of Securities)

 

 

Y8897Y107

(CUSIP Number)

 

 

May 7, 2008

(Date of Event Which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

¨ Rule 13d-1(b)

x Rule 13d-1(c)

¨ Rule 13d-1(d)

 

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

Page 1 of 7

CUSIP No. Y8897Y107

 

  1.  

Names of Reporting Persons.

I.R.S. Identification Nos. of above persons (entities only).

 

            QVT Associates GP LLC

            01-0798253

    
  2.  

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  ¨

(b)  x

    
  3.  

SEC Use Only

 

    
  4.  

Citizenship or Place of Organization

 

            Delaware

    

 

Number of  

Shares  

Beneficially  

Owned by  

Each  

Reporting  

Person  

With:  

 

  

  5.    Sole Voting Power

 

            0

 

  6.    Shared Voting Power

 

            1,189,868

 

  7.    Sole Dispositive Power

 

            0

 

  8.    Shared Dispositive Power

 

            1,189,868

  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

            1,189,868

    
10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

 

  

¨

 

11.  

Percent of Class Represented by Amount in Row (9)

 

            4.25%

    
12.  

Type of Reporting Person (See Instructions)

 

            OO

    

 

Page 2 of 7

CUSIP No. Y8897Y107

 

  1.  

Names of Reporting Persons.

I.R.S. Identification Nos. of above persons (entities only).

 

            QVT Overseas Ltd.

            98-0507341

    
  2.  

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  ¨

(b)  x

    
  3.  

SEC Use Only

 

    
  4.  

Citizenship or Place of Organization

 

            Cayman Islands

    

 

Number of  

Shares  

Beneficially  

Owned by  

Each  

Reporting  

Person  

With:  

 

  

  5.    Sole Voting Power

 

            0

 

  6.    Shared Voting Power

 

            1,115,933

 

  7.    Sole Dispositive Power

 

            0

 

  8.    Shared Dispositive Power

 

            1,115,933

  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

            1,115,933

    
10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

 

  

¨

 

11.  

Percent of Class Represented by Amount in Row (9)

 

            3.98%

    
12.  

Type of Reporting Person (See Instructions)

 

            CO

    

 

Page 3 of 7

Item 1  

(a).

    Name of Issuer      
     Top Ships Inc. (the “Issuer”)      
Item 1  

(b).

    Address of Issuer’s Principal Executive Offices      
    

The address of the Issuer’s principal executive offices is:

1 Vas. Sofias & Meg. Alexandrou Street, 151 24 Maroussi, Greece

      
Item 2  

(a).

    Name of Person Filing      
Item 2  

(b).

    Address of Principal Business Office or, if none, Residence      
Item 2  

(c).

    Citizenship      
    

QVT Associates GP LLC

1177 Avenue of the Americas, 9th Floor

New York, New York 10036

Delaware Limited Liability Company

      
    

QVT Overseas Ltd.

Walkers SPV, Walker House

Mary Street

George Town, Grand Cayman KY1-9002, Cayman Islands

Cayman Islands Company

      
Item 2  

(d).

    Title of Class of Securities      
     Common stock, $0.01 par value (the “Common Stock”).      
Item 2  

(e).

    CUSIP Number      
     The CUSIP number of the Common Stock is Y8897Y107.      
Item 3.   If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:   
  (a)    ¨    Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
  (b)    ¨    Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
  (c)    ¨    Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
  (d)    ¨    Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
  (e)    ¨    An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
  (f)    ¨    An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
  (g)    ¨    A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
  (h)    ¨    A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
  (i)    ¨    A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
  (j)    ¨    Group, in accordance with § 240.13d-1(b)(1)(ii)(J).

 

Page 4 of 7

Item 4.    Ownership.      
   (a)    Amount beneficially owned:      
      QVT Overseas Ltd. beneficially owns 1,115,933 shares of Common Stock. QVT Associates GP LLC is the General Partner for QVT Fund LP, Quintessence Fund L.P., QVT Associates LP, QVT Global II L.P., Quintessence Global II L.P., Quintessence Associates LP and Quintessence Overseas L.P. (each, a “Fund” and collectively, the “Funds”). The Funds beneficially own an aggregate amount of 1,189,868 shares of Common Stock. QVT Associates GP LLC, as General Partner of the Funds, may be deemed to beneficially own the aggregate number of shares of Common Stock owned by the Funds. Accordingly, QVT Associates GP LLC may be deemed to be the beneficial owner of an aggregate amount of 1,189,868 shares of Common Stock.      
      QVT Associates GP LLC disclaims beneficial ownership of all shares of Common Stock owned by the Funds, except to the extent of its pecuniary interest therein.      
      The percentage disclosed in Item 11 of the Cover Pages for each reporting person is calculated based upon 28,005,658 shares of Common Stock outstanding, consisting of the 62,116,976 shares reported as outstanding as of February 8, 2008, in the Issuer’s Form 6-K filed on February 15, 2008, as adjusted for (i) the 3:1 reverse stock split effective March 20, 2008, as reported in the Issuer’s Form 6-K filed on April 7, 2008, and (ii) the subsequent issuance of 7,300,000 shares of Common Stock between April 30 and May 7, 2008 as reported in the Issuer’s Form 6-K filed on May 6, 2008.      
   (b)    Percent of class:      
      See Item 11 of the Cover Pages to this Schedule 13G.      
   (c)    Number of shares as to which the person has:      
      (i)    Sole power to vote or to direct the vote      
         0      
      (ii)    Shared power to vote or to direct the vote      
         See item (a) above.      
      (iii)    Sole power to dispose or to direct the disposition of      
         0      
      (iv)    Shared power to dispose or to direct the disposition of      
         See item (a) above.      
Item 5.    Ownership of Five Percent or Less of a Class   
   If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.....x.   
Item 6.    Ownership of More than Five Percent on Behalf of Another Person.      
   Not Applicable      
Item 7.    Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company
   Not Applicable
Item 8.    Identification and Classification of Members of the Group      
   Not Applicable      
Item 9.    Notice of Dissolution of Group      
   Not Applicable      
Item 10.    Certification      
   By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.      

 

Page 5 of 7

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: May 9, 2008

 

QVT OVERSEAS LTD.
By:  

/s/ Daniel Gold

Name:   Daniel Gold
Title:   Director
QVT ASSOCIATES GP LLC
By:  

/s/ Daniel Gold

Name:   Daniel Gold
Title:   Managing Member
By:  

/s/ Oren Eisner

Name:   Oren Eisner
Title:   Authorized Signatory

 

Page 6 of 7

EXHIBIT A

JOINT FILING AGREEMENT

The undersigned hereby agree that the statement on Schedule 13G signed by each of the undersigned shall be filed on behalf of each of the undersigned pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.

Dated: May 9, 2008

 

QVT OVERSEAS LTD.
By:  

/s/ Daniel Gold

Name:   Daniel Gold
Title:   Director
QVT ASSOCIATES GP LLC
By:  

/s/ Daniel Gold

Name:   Daniel Gold
Title:   Managing Member
By:  

/s/ Oren Eisner

Name:   Oren Eisner
Title:   Authorized Signatory

 

Page 7 of 7

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