Sphinx Investment Corp. Amends Stake in Performance Shipping

TL;DR

Sphinx Investment Corp. just updated its stake in Performance Shipping Inc. - watch this space.

AI Summary

On March 26, 2024, Sphinx Investment Corp. filed an amendment to its Schedule 13D regarding Performance Shipping Inc. The filing indicates a change in beneficial ownership, with Sphinx Investment Corp. now holding a significant stake in the company. The specific percentage and number of shares are detailed within the filing.

Why It Matters

This amendment signals a potential shift in control or influence over Performance Shipping Inc., which could impact its strategic direction and stock performance.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate activist investor activity or strategic shifts, which carry inherent risks for existing shareholders.

Key Players & Entities

• Sphinx Investment Corp. (company) — Filing entity
• Performance Shipping Inc. (company) — Subject company
• George Economou (person) — Group member
• Maryport Navigation Corp. (company) — Group member

FAQ

Key Financial Figures

• $0.01 — ______________________ Common shares, $0.01 par value (including the associated P
• $3.00 — may be amended from time to time)), for $3.00 per Share in cash, without interest, le
• $1.68 — Shares on the Nasdaq Capital Market was $1.68 per Share. On March 25, 2024, the last
• $7.11 — financial advisor, to be approximately $7.11 per Share, exceeds the consideration re

Filing Documents

• tm249776d1_sctota.htm (SC TO-T/A) — 111KB
• tm249776d1_ex99a1p.htm (EX-99.(A)(1)(P)) — 11KB
• 0001104659-24-038822.txt ( ) — 125KB

of the Schedule TO

Item 12 of the Schedule TO is hereby amended and supplemented by adding the following text thereto: Exhibit Description (a)(1)(P) Press Release issued by Sphinx Investment Corp. on March 26, 2024 (filed herewith).

SIGNATURES

SIGNATURES After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: March 26, 2024 SPHINX INVESTMENT CORP. By: Levante Services Limited By: /s/ Kleanthis Costa Spathias Kleanthis Costa Spathias Director MARYPORT NAVIGATION CORP. By: Levante Services Limited By: /s/ Kleanthis Costa Spathias Kleanthis Costa Spathias Director George Economou /s/ George Economou George Economou EXHIBIT INDEX Exhibit Description (a)(1)(A) Offer to Purchase* (a)(1)(B) Form of Letter of Transmittal* (a)(1)(C) Form of Notice of Guaranteed Delivery* (a)(1)(D) Form of Letter to Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees* (a)(1)(E) Form of Letter to Clients for Use by Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees* (a)(1)(F) Form of Summary Advertisement as published in the New York Times on October 11, 2023 * (a)(1)(G) Amended and Restated Offer to Purchase* (a)(1)(H) Form of revised Letter of Transmittal* (a)(1)(I) Form of revised Notice of Guaranteed Delivery* (a)(1)(J) Form of revised Letter to Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees* (a)(1)(K) Form of revised Letter to Clients for Use by Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees* (a)(1)(L) Complaint filed by Sphinx Investment Corp. in the Supreme Court of the State of New York located in the County of New York* (a)(1)(M) Press Release issued by Sphinx Investment Corp. on October 30, 2023* (a)(1)(N) Press Release issued by Sphinx Investment Corp. on November 15, 2023* (a)(1)(O) Supplement to Amended and Restated Offer to Purchase dated December 5, 2023* (a)(1)(P) Press Release issued by Sphinx Investment Corp. on March 26, 2024** (b) Not applicable. (d) Not applicable. (g) Not applicable. (h) Not applicable. 107 Filing Fee Table*

View Full Filing

View this SC 13D/A filing on SEC EDGAR