RUBI News & Events

Rubico Inc files to sell 50M common shares for holders

Rubico Inc trading halted, news pending

Rubico Inc. announced that its board of directors has determined to effect a 1-for-10 reverse stock split of the company's issued common shares, par value $0.01, effective at the opening of trading on April 9. The purpose of the reverse stock split is to increase the market price of the company's common stock. The company believes that the reverse stock split will increase the market price for its common stock and allow it to maintain compliance with Nasdaq's continued listing requirements.

Rubico announced that after taking into account the most recent charter free vessel value estimates from a third party international broker, debt outstanding and cash, management estimates the Company's net asset value as of December 31, 2025 to be $94.2 million. This translates into a NAV of $22.88 per common share and $15.08 per common share on a fully diluted basis.