Performance Shipping Inc. Announces Termination of ATM Offering

Athens, Greece - August 22, 2022

Performance Shipping Inc. (NASDAQ: PSHG), (“we” or the “Company”), a global shipping company specializing in the ownership of tanker vessels, today announced that, effective August 23, 2022, it has terminated the At The Market Offering Agreement with H.C. Wainwright & Co., LLC, dated March 5, 2021 (the “ATM Agreement”).

Prior to termination, the Company issued and sold 526,916 shares of its common stock under the ATM Agreement, raising net proceeds, after deducting commissions and other expenses, of approximately $1.3 million.

The Company is terminating the ATM Agreement because it does not intend to raise additional capital or sell additional shares under the ATM Agreement.

Performance Shipping Inc. press release