FILED PURSUANT TO RULE 424(B)(2)
REGISTRATION NO. 333-127086
PROSPECTUS SUPPLEMENT
(TO PROSPECTUS DATED AUGUST 1, 2005)
TOP TANKERS INC.
COMMON STOCK
This prospectus supplement relates to the issuance and sale of 2,100,000 shares
of our common stock on our behalf through our sales agent, Deutsche Bank
Securities Inc., or Deutsche Bank, in three privately negotiated transactions of
800,000, 1,000,000 and 300,000 shares, respectively. Total proceeds to us,
before expenses but less commissions, for the sale of these shares were
$14,050,040. These sales were made pursuant to the terms of a sales agreement
between us and the sales agent, the form of which was filed with the Securities
and Exchange Commission under a report on Form 6-K dated June 13, 2007, and is
incorporated by reference herein. See "Plan of Distribution."
SEE "RISK FACTORS" BEGINNING ON PAGE 6 OF THE ACCOMPANYING PROSPECTUS TO READ
ABOUT FACTORS YOU SHOULD CONSIDER BEFORE BUYING SHARES OF OUR COMMON STOCK.
Our common stock trades on the Nasdaq Global Market, or NASDAQ, under the symbol
"TOPT." On June 28, 2007, the closing price of our common stock as quoted on the
NASDAQ was $ 7.33 per share.
In connection with the sale of common stock on our behalf, the sales agent may
be deemed to be an "underwriter" within the meaning of the Securities Act of
1933, and the compensation of the sales agent may be deemed to be underwriting
commissions or discounts. We have agreed to provide indemnification and
contribution to the sales agent against certain liabilities, including
liabilities under the Securities Act.
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Neither the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of these securities or determined if this
prospectus is truthful or complete. Any representation to the contrary is a
criminal offense.
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The table below shows the compensation received by Deutsche Bank for the sales
of our common stock.
Sale of 800,000 shares Per Share Total
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Initial price to purchaser............... $6.8500 $5,480,000
Deutsche Bank's compensation............. $0.1027 $ 82,200
Proceeds, before expenses, to us......... $6.7473 $5,397,800
Sale of 1,000,000 shares Per Share Total
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Initial price to purchaser............... $6.7200 $6,720,000
Deutsche Bank's compensation............. $0.1008 $ 100,800
Proceeds, before expenses, to us......... $6.6192 $6,619,200
Sale of 300,000 shares Per Share Total
----------------------
Initial price to purchaser............... $6.8800 $2,064,000
Deutsche Bank's compensation............. $0.1032 $ 30,960
Proceeds, before expenses, to us ........ $6.7768 $2,033,040
The date of this Prospectus Supplement is June 29, 2007
DEUTSCHE BANK SECURITIES INC.
SK 23116 0001 789044