On January 5, 2018, Top Ships Inc. entered into an amendment to its previously announced Note Purchase Agreement dated December 14, 2017 with Crede Capital Group LLC (Crede), pursuant to which the company will issue an unsecured promissory note in the original principal amount of $5,369,000 (the promissory note) with a revolving option for one additional $4,631,000 note to Crede.