Sphinx Investment Corp. Extends Tender Offer for Performance Shipping Shares until February 2026
On July 31, 2025, Sphinx Investment Corp. made a significant announcement regarding its tender offer to acquire all outstanding common shares of Performance Shipping Inc. This extension allows investors additional time to consider their participation in this offer. Previously, the offer was set to expire but has now been extended to 11:59 PM on February 13, 2026, giving shareholders until this date to tender their shares. The offer price remains at $3.00 per share, which will be paid in cash, less any applicable withholding taxes.
As of the recent update on July 30, 2025, a total of 2,152,961 shares had already been validly tendered, reflecting notable interest from shareholders. The acquisition process is governed by the terms outlined in the Amended and Restated Offer to Purchase, which was originally filed with the Securities and Exchange Commission (SEC) on October 11, 2023. This document, alongside its subsequent amendments, details the specifics of the offer and shareholders' rights in this context.
Among the documents related to this tender offer is the revised Letter of Transmittal and the Notice of Guaranteed Delivery, aiming to simplify the share tendering process for participating investors. The Information Agent for the offer, Innisfree MA Incorporated, provides the necessary assistance for inquiries related to the offer materials, which are also accessible for free on the SEC's website.
This announcement underscores Sphinx's commitment to further develop its investment strategy in the maritime sector through the acquisition of Performance Shipping, signaling to the market Sphinx’s confidence in the company's potential and performance. The ongoing engagement with shareholders aims to ensure that all participants are well-informed about the offer specifics and any changes that advance as the expiration date approaches.
Sphinx Investment Corp. operates under the laws of the Republic of the Marshall Islands and focuses on investing in securities. Controlled by George Economou, Sphinx is looking to expand its portfolio and strengthen its position in the market with this tender offer.
For shareholders, these developments present an opportunity to sell their shares at a favorable price within the extended offer period. However, it is critical for them to review the tender offer materials thoroughly, as they contain important information regarding their investment choices. Investors are advised to act promptly and consult with financial advisors to make the most informed decisions leading up to the new expiration date.
As forward-looking statements are made regarding this offer, it is essential to note that several conditions could influence the eventual outcome and success of the tender offer. Consequently, stakeholders must remain engaged and attentive to updates as they unfold during this critical period in the acquisition process.
As of the recent update on July 30, 2025, a total of 2,152,961 shares had already been validly tendered, reflecting notable interest from shareholders. The acquisition process is governed by the terms outlined in the Amended and Restated Offer to Purchase, which was originally filed with the Securities and Exchange Commission (SEC) on October 11, 2023. This document, alongside its subsequent amendments, details the specifics of the offer and shareholders' rights in this context.
Among the documents related to this tender offer is the revised Letter of Transmittal and the Notice of Guaranteed Delivery, aiming to simplify the share tendering process for participating investors. The Information Agent for the offer, Innisfree MA Incorporated, provides the necessary assistance for inquiries related to the offer materials, which are also accessible for free on the SEC's website.
This announcement underscores Sphinx's commitment to further develop its investment strategy in the maritime sector through the acquisition of Performance Shipping, signaling to the market Sphinx’s confidence in the company's potential and performance. The ongoing engagement with shareholders aims to ensure that all participants are well-informed about the offer specifics and any changes that advance as the expiration date approaches.
Sphinx Investment Corp. operates under the laws of the Republic of the Marshall Islands and focuses on investing in securities. Controlled by George Economou, Sphinx is looking to expand its portfolio and strengthen its position in the market with this tender offer.
For shareholders, these developments present an opportunity to sell their shares at a favorable price within the extended offer period. However, it is critical for them to review the tender offer materials thoroughly, as they contain important information regarding their investment choices. Investors are advised to act promptly and consult with financial advisors to make the most informed decisions leading up to the new expiration date.
As forward-looking statements are made regarding this offer, it is essential to note that several conditions could influence the eventual outcome and success of the tender offer. Consequently, stakeholders must remain engaged and attentive to updates as they unfold during this critical period in the acquisition process.
Topics Financial Services & Investing）
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