RBNE News & Events

Robin Energy announced that its board of directors has decided, at the recommendation of its special committee of disinterested and independent directors, to effect a spin-off of its tanker business comprising of one tanker and Xavier Shipping, and cash. In the spin-off, Robin shareholders will receive one common share of AI Okto, a newly formed subsidiary that will act as the holding company for the one tanker vessel, for every 6.5 Robin common shares. AI Okto has applied to have its common shares listed on Nasdaq. Robin's chairman and CEO, Petros Panagiotidis, has been appointed as chairman and CEO of AI Okto with effect as of the completion of the spin-off. AI Okto has filed a registration statement on Form 20-F pursuant to the Securities Exchange Act of 1934 with the U.S. Securities and Exchange Commission. The spin-off remains subject to the Registration Statement being declared effective and the approval of the listing of AI Okto's common shares on Nasdaq.

The company said, "The M/T Wonder Mimosa, a 2006-built South Korean Handysize tanker vessel, has continued to perform strongly as part of a leading commercial pool. Gross daily rate for February 2026, amounted to $30,115, 52% higher than the previous month and 93% increase over the same period in 2025, highlighting the company's ability to capitalize on favorable tanker market conditions. The M/T Dream Terrax, a 2020-built, 5,000 cbm Japanese-built LPG carrier, operates since March 2026 under a time charter contract with a reputable counterparty at a gross monthly charter rate of $353,000 until January 2027, representing a 17% premium to the 10-year historical average. The M/T Dream Syrax, a 2015-built, 5,000 cbm Japanese-built LPG carrier, was fixed at a gross monthly charter rate of $360,000 until March 2027, representing a 19% premium the 10-year historical average. As a result of these fixtures, the Company has secured contracted LPG revenue in excess of $7.0 million for 2026, providing strong earnings and operating cash flow visibility for the segment."

Robin Energy Ltd trading halted, news pending

Robin Energy board of directors has determined to effect a one-for-five reverse stock split of the Company's common shares, par value $0.001 per share. The reverse stock split will take effect at 11:59 pm Eastern Time on December 23, and the Company's common shares will begin trading on a split-adjusted basis on Nasdaq Capital Market as of the opening of trading on December 24. The CUSIP number of Y73118 112 will be assigned to the Company's common shares when the reverse stock split becomes effective. When the reverse stock split becomes effective, every five of the Company's issued common shares will be combined into one issued common share, without any change to the par value per share. This will reduce the number of outstanding common shares from approximately 14M shares to approximately 2.8M shares.