TOP Ships Inc美股招股说明书(2026-06-29版)

PROSPECTUS SUPPLEMENT NO. 2(TO PROSPECTUS DATED MAY 7, 2026) Up to 50,000,000 Common Shares TOP SHIPS INC. This is a supplement (the “Prospectus Supplement”) to the prospectus, dated May 7, 2026 (as supplemented or amended fromtime to time, the “Prospectus”) of TOP Ships Inc. (the “Company”), which forms a part of the Company’s Registration Statement onForm F-1 (Registration No. 333-295328), as amended from time to time. This Prospectus Supplement is being filed to update and supplement the information included in the Prospectus with theinformation contained in the Company’s Report on Form 6-K, furnished to the U.S. Securities and Exchange Commission (the“Commission”) on June 26, 2026 (the “Form 6-K”). Accordingly, the Form 6-K is attached to this Prospectus Supplement. This Prospectus Supplement should be read in conjunction with, and delivered with, the Prospectus and is qualified byreference to the Prospectus except to the extent that the information in this Prospectus Supplement supersedes the informationcontained in the Prospectus. This Prospectus Supplement is not complete without, and may not be delivered or utilized except in connection with, theProspectus, including any amendments or supplements to it. Investing in our securities involves a high degree of risk. See “Risk Factors” beginning on page 7 of the Prospectus fora discussion of information that should be considered in connection with an investment in our securities. Neither the Commission nor any state securities commission has approved or disapproved of these securities ordetermined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense. The date of this prospectus supplement is June 29, 2026. UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIESEXCHANGE ACT OF 1934 For the month of June 2026 Commission File Number:001-37889 TOP SHIPS INC.(Translation of registrant’s name into English) 20 Iouliou Kaisara Str19002, PaianiaAthens-Greece(Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.Form 20-F☒Form 40-F☐ On June 24, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated hereinby reference. Exhibit 99.1. Press release dated June 24, 2026 The information contained in this Report is hereby incorporated by reference into the Company’s registration statements on Form F-3(File Nos. 333-290238, 333-268475 and 333-267545). SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on itsbehalf by the undersigned, thereunto duly authorized. TOP SHIPS INC.(Registrant)/s/ Evangelos J. PistiolisEvangelos J. PistiolisChief Executive Officer Date: June 26, 2026 ATHENS, Greece, June 24, 2026(GLOBE NEWSWIRE) -- TOP Ships Inc. (the “Company”), an international owner and operator ofmodern, fuel efficient “ECO” tanker vessels, announced today that the M/T Legio X, its 2022-built Very Large Crude Carrier(“VLCC”), has safely exited the Strait of Hormuz. The vessel had remained within the Strait since the beginning of the disruption tonavigation through the waterway. Throughout this period, the M/T Legio X continued to earn revenue under its existing time charter employment, and the Companyexperienced no interruption to the contracted cash flows generated by the vessel. The Company further notes that, according to charter free vessel value estimates from a third-party international broker, the value ofcomparable VLCCs has increased by approximately 13% from the values used in the management estimate of net asset valueannounced on March 10, 2026. About the Company TOP Ships Inc. is an international owner and operator of ocean-going vessels focusing on modern, fuel-efficient eco tanker vesselstransporting crude oil, petroleum products (clean and dirty) and bulk liquid chemicals. For more information about TOP Ships Inc.,visit its website:www.topships.org. Cautionary Note Regarding Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospectiveinformation about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, futureevents or performance, and underlying assumptions and other statements, which are other than statements of historical facts, includingstatements regarding the vessel values estimates. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and isincluding this cautionary statement in c