Performance Shipping Inc. Announces Receipt of Nasdaq Notice

ATHENS, Greece, July 18, 2022 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ:PSHG), (“we” or the “Company”), a global shipping company specializing in the ownership of tanker vessels, today announced that it has received written notification from The Nasdaq Stock Market LLC (“Nasdaq”) dated July 13, 2022, indicating that because the closing bid price of the Company's common stock for 30 consecutive business days, from May 27, 2022 to July 12, 2022, was below the minimum $1.00 per share bid price requirement for continued listing on The Nasdaq Capital Market, the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2). Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the applicable grace period to regain compliance is 180 days, or until January 9, 2023.