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PSHG - Performance Shipping stock rallies as it terminates ATM offering
Performance Shipping Inc.
Performance Shipping ( NASDAQ: PSHG ) has provided notice of termination of the ATM Sales Agreement with Virtu Americas dated Dec. 9, 2022.
The Co. is terminating the ATM Agreement because it does not intend to raise additional capital or sell additional shares under the ATM Agreement.
Prior to termination, the Co. issued and sold ~0.37M shares of its common stock under the ATM Agreement at an average price/share of $3.30, raising total gross proceeds of ~$1.2M.