TOP SHIPS INC.
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(Name of Issuer)
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Common Stock, par value $0.01 per share
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(Title of Class of Securities)
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Y8897Y164
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(CUSIP Number)
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Dimosthenis Eleftheriadis
11 Kanari Street
106 71 Athens, Greece
011 (30) 210 364 0030
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(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
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April 30, 2020
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(Date of Event Which Requires Filing of This Statement)
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If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of §§ 240.13d-1(e), 240.13d‑1(f) or 240.13d-1(g), check the following box ☐.
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Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for
other parties to whom copies are to be sent.
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* 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 disclosures provided in a prior cover page.
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The information required on 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).
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CUSIP No.
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Y8897Y164
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1.
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NAME OF REPORTING PERSONS
Family Trading Inc.
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2.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a)
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[X]
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(b)
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[_]
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3.
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SEC USE ONLY
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4.
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SOURCE OF FUNDS
OO
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5.
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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[_]
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6.
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CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of the Marshall Islands
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
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7.
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SOLE VOTING POWER
0
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8.
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SHARED VOTING POWER
17,274,140 (1)
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9.
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SOLE DISPOSITIVE POWER
0
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10.
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SHARED DISPOSITIVE POWER
17,274,140 (1)
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11.
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,274,140 (1)
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12.
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
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[_]
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13.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.4%(2)
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14.
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TYPE OF REPORTING PERSON
CO
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CUSIP No.
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Y8897Y164
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1.
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NAME OF REPORTING PERSONS
Tankers Family Inc.
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2.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a)
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[X]
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(b)
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[_]
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3.
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SEC USE ONLY
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4.
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SOURCE OF FUNDS
OO
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5.
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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[_]
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6.
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CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of the Marshall Islands
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
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7.
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SOLE VOTING POWER
0
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8.
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SHARED VOTING POWER
0(1)
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9.
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SOLE DISPOSITIVE POWER
0
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10.
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SHARED DISPOSITIVE POWER
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0(1)
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11.
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0(1)
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12.
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
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[_]
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13.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Less than 0.1%(2)
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14.
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TYPE OF REPORTING PERSON
CO
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CUSIP No.
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Y8897Y164
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1.
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NAME OF REPORTING PERSONS
The Lax Trust
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2.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a)
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[X]
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(b)
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[_]
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3.
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SEC USE ONLY
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4.
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SOURCE OF FUNDS
OO
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5.
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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[_]
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6.
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CITIZENSHIP OR PLACE OF ORGANIZATION
New Zealand
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
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7.
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SOLE VOTING POWER
0
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8.
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SHARED VOTING POWER
17,274,140 (1)
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9.
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SOLE DISPOSITIVE POWER
0
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10.
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SHARED DISPOSITIVE POWER
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17,274,140 (1)
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11.
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,274,140 (1)
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12.
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
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[_]
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13.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.4%(2)
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14.
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TYPE OF REPORTING PERSON
OO
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Item 1.
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Security and Issuer
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Item 2.
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Identity and Background.
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Item 3.
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Source and Amount of Funds or Other Consideration.
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Item 4.
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Purpose of Transaction
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Item 5.
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Interest in Securities of the Issuer.
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Item 6.
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Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.
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Item 7.
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Material to be Filed as Exhibits.
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Exhibit A
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Joint Filing Undertaking.
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Exhibit B
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Amended Family Trading Credit Facility (incorporated
by reference to the Reporting Persons' Schedule 13D/A filed with the Commission on March 1, 2017).
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Exhibit C
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Form of Warrant Agreement (incorporated by
reference to the Issuer's Post-Effective Amendment No. 1 to the Registration Statement on Form F-1, filed with the Commission on May 9, 2016 (File No. 333-194690)).
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Exhibit D
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Statement of Designations of Series D Preferred Shares (incorporated by reference to the Issuer's Current Report on Form 6-K, filed with the Commission on May 8, 2017).
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Exhibit E
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Addendum to the Amended Family Trading Credit Facility dated September 26, 2018 (incorporated by reference to the Issuer's Current Report on Form 6-K,
filed with the Commission on October 3,
2018).
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Exhibit F
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Addendum to the Amended Family Trading Credit Facility dated October 30, 2018.
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Exhibit G
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Addendum to the Amended Family Trading Credit Facility dated December 31, 2018.
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Exhibit H
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Addendum to the Amended Family Trading Credit Facility dated January 22, 2019.
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Exhibit I
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Stock Purchase Agreement dated March 29, 2019 (incorporated by reference to the Issuer's Current Report on Form 6-K, filed with the Commission on April 1, 2019).
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Exhibit J
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Statement of Designations of Series E Perpetual Convertible Preferred Stock dated March 29, 2019 (incorporated by reference to the Issuer's Current Report on Form 6-K, filed with the Commission on April 1, 2019).
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Dated: April 30, 2020
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FAMILY TRADING INC.
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By:
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/s/ Dimosthenis Eleftheriadis
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Name:
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Dimosthenis Eleftheriadis
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Title:
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President/Director
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TANKERS FAMILY INC.
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By:
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/s/ Dimosthenis Eleftheriadis
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Name:
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Dimosthenis Eleftheriadis
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Title:
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Vice President / Secretary
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THE LAX TRUST
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NEW ZEALAND TRUST CORPORATION LIMITED, as Trustee
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By:
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/s/ Karen Marshall
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Name:
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Karen Marshall
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Title:
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Director
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Dated: April 30, 2020
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FAMILY TRADING INC.
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By:
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/s/ Dimosthenis Eleftheriadis
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Name:
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Dimosthenis Eleftheriadis
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Title:
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President / Director
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TANKERS FAMILY INC.
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By:
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/s/ Dimosthenis Eleftheriadis
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Name:
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Dimosthenis Eleftheriadis
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Title:
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Vice President / Secretary
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THE LAX TRUST
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NEW ZEALAND TRUST CORPORATION LIMITED, as Trustee
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By:
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/s/ Karen Marshall
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Name:
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Karen Marshall
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Title:
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Director
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