Business
Performance Shipping Inc. Regains Compliance With Nasdaq Minimum Bid Price Requirement
ATHENS, Greece, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (“we” or the “Company”), a global shipping company specializing in
About this update from Performance Shipping Inc.
[{"type":"text","content":"ATHENS, Greece, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (“we” or the “Company”), a global shipping company specializing in the ownership of tanker vessels, today announced that the Nasdaq Stock Market (“Nasdaq”) has confirmed that the Company has regained compliance with Nasdaq's minimum bid price requirements for continued listing on the Nasdaq Capital Market. Nasdaq’s letter noted that, as a result of the closing bid price of the Company's common shares having been at $1.00 per share or greater for at least ten consecutive business days, from August 1, 2023 through August 14, 2023, the Company has regained compliance with Nasdaq’s Listing Rule 5550(a)(2), and the matter is now closed. Commenting on this development, Andreas Michalopoulos, the Company’s Chief Executive Officer, stated: “We are very pleased to have regained compliance with Nasdaq’s listing requirements as a result of an organic increase in the market price of our shares, without the need to effect a reverse stock split.” About the Company Performance Shipping Inc. is a global provider of shipping transportation services through its ownership of tanker vessels. The Company employs its fleet on spot voyages, through pool arrangements and on time charters. Cautionary Statement Regarding Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include, but are not limited to, statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts, including with respect to the delivery of the vessel we have agreed to acquire. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “will,” “may,” “should,” “expect,” “targets,” “likely,” “would,” “could,” “seeks,” “continue,” “possible,” “might,” “pending” and similar expressions, terms or phrases may identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which a...