Research analysts covering Rubico.
Recent press releases and 8-K filings for RUBI.
Rubico Completes $4.0 Million Public Offering
RUBI
Equity Issuance
Dilution
Volatility
- Rubico Inc. announced the pricing and subsequent closing of a public offering of 6,666,666 units at $0.60 per unit, generating approximately $4.0 million in gross proceeds before deducting fees.
- The offering, which closed on January 12, 2026, included units consisting of one common share (or pre-funded warrant) and 1.5 Class B Warrants.
- Each Class B Warrant is immediately exercisable at $0.60 per share and expires five years after issuance, while Pre-funded Warrants have an exercise price of $0.01 per Common Share.
- Following the closing, 3,979,452 Common Shares, 6,271,666 Pre-funded Warrants, 9,999,999 Class B Warrants, and 333,333 Placement Agent Warrants were outstanding.
Jan 13, 2026, 9:46 PM
Rubico Inc. Announces Mega Yacht Acquisition and Preferred Share Issuance
RUBI
M&A
Convertible Preferred Issuance
New Projects/Investments
- Rubico Inc. announced the acquisition of a newbuilding mega yacht, the M/Y Sanlorenzo 1150Exp, from Top Ships Inc. for a purchase price of $38.0 million, with expected delivery in the second quarter of 2027.
- The $38.0 million purchase price is payable in installments over 300 days, with an initial payment of $15.5 million made upon signing the agreement on December 31, 2025. An advance payment of $4.0 million was previously credited against the purchase price.
- Remaining installments payable to the shipyard for the newbuilding amount to approximately $41.5 million (or €35.5 million) up to May 2027.
- Rubico Inc. may issue Series E Perpetual Convertible Preferred Shares to Top Ships Inc. to settle late installments. These shares carry 15% semi-annual dividends, have a voting power equivalent to 1,000 common shares each, and are convertible into common shares at a minimum price of $0.60. The potential issuance and conversion of these preferred shares could lead to dilution for existing common shareholders.
Jan 1, 2026, 12:57 AM
Rubico Inc. Schedules 2026 Annual Meeting, Seeks Approval for Reverse Stock Split and Auditor Ratification
RUBI
Proxy Vote Outcomes
Delisting/Listing Issues
Auditor Change
- Rubico Inc. will hold its 2026 Annual Meeting of Shareholders on January 15, 2026, in Athens, Greece, with the record date for voting set as December 5, 2025.
- Shareholders will vote on the election of two Class A Directors, the ratification of Deloitte Certified Public Accountants S.A. as the independent auditors for fiscal year 2026, and the approval of amendments for one or more reverse stock splits.
- The proposed reverse stock split would allow for a cumulative exchange ratio of between one-for-two and one-for-250, to be implemented by August 1, 2028, primarily to increase the per share trading price and help maintain compliance with NASDAQ's $1.00 minimum bid price requirement.
- A one-for-thirty reverse stock split was previously conducted effective December 2, 2025, under an existing authorization.
- Approval for the reverse stock split proposal requires the affirmative vote of a majority of all outstanding shares of common stock eligible to vote, with abstentions and broker non-votes counting against it.
Dec 30, 2025, 12:08 AM
Rubico Inc. Announces Reverse Stock Split
RUBI
Delisting/Listing Issues
- Rubico Inc. announced a 1-for-30 reverse stock split of its common shares, which will become effective for trading on a split-adjusted basis starting December 2, 2025.
- The purpose of the reverse stock split is to increase the market price of the company's common stock and maintain compliance with Nasdaq's continued listing requirements.
- As of November 20, 2025, the 61,444,087 outstanding common shares will be reduced to approximately 2,048,136 after the split.
- Shareholders entitled to fractional shares will receive a cash payment in lieu thereof.
Nov 28, 2025, 4:02 PM
Rubico Inc. announces time charter extensions and revenue backlog
RUBI
New Projects/Investments
Revenue Acceleration/Inflection
- Rubico Inc. (RUBI) announced time charter extensions for both of its vessels, securing future employment.
- The extensions contribute to a total contracted revenue backlog of $120.8 million.
- Both vessels will earn a gross daily hire rate of $32,850 until January 11, 2027, followed by $29,990 for four years.
- The charterer also holds options to extend each time charter for two additional years at daily rates of $34,750 and $36,750, respectively.
Nov 26, 2025, 9:16 PM
Rubico Inc. Completes Fleet Refinancing and Updates Common Share Count
RUBI
Debt Issuance
- Rubico Inc. has successfully completed the refinancing of its two 157,000 dwt Suezmax tankers, the M/Ts Eco West Coast and Eco Malibu, through sale and leaseback agreements with a major Chinese financier.
- This transaction generated gross proceeds of approximately $10.4 million before fees and expenses, after repayment of previous debt and a short-term bridge loan, while maintaining the fleet's leverage at a conservative level of about 50%.
- As of November 13, 2025, Rubico Inc. had 40,827,280 common shares issued and outstanding. The exercise of all remaining Class A Warrants and Representative Warrants could lead to an additional 17,537,612 common shares being issued.
Nov 14, 2025, 2:19 PM
Rubico Inc. Announces Pricing and Closing of Public Offering
RUBI
Delisting/Listing Issues
- Rubico Inc. priced an underwritten public offering of 12,315,270 units at $0.609 per unit, with each unit consisting of one common share and one Class A warrant.
- The offering closed on November 6, 2025, generating approximately $7.5 million in gross proceeds for the company.
- Following the offering and partial exercise of the over-allotment option, 17,612,636 common shares were issued and outstanding.
- The warrants include provisions for downward adjustment of the exercise price and a zero cash exercise option, which are expected to result in substantial dilution for existing common shareholders.
- The company faces a risk that Nasdaq may halt trading or delist its common shares due to the highly dilutive nature of the offering or if the share price falls below the minimum bid price.
Nov 7, 2025, 1:45 AM
Rubico Inc. Reports Q2 2025 Results, Completes Spin-Off, and Secures New Financing
RUBI
Earnings
Debt Issuance
New Projects/Investments
- Rubico Inc. reported net income of $3,976 thousand for the six months ended June 30, 2025, a 13% increase compared to the same period in 2024, while revenues decreased by 1% to $11,970 thousand.
- As of June 30, 2025, the company had $1.5 million in cash and cash equivalents and a total indebtedness of $73.7 million (net of deferred financing fees).
- The company completed its spin-off from Top Ships Inc. on August 1, 2025, and its common shares began trading on Nasdaq under the symbol "RUBI" on August 4, 2025.
- Rubico Inc. entered into an Equity Line Purchase Agreement on July 21, 2025, allowing it to sell up to $30,000 thousand of common shares, and secured a new sale and leaseback financing facility for $84,000 thousand on August 7, 2025, which is expected to close in November 2025.
Sep 30, 2025, 8:31 PM
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