Research analysts covering Rubico.
Recent press releases and 8-K filings for RUBI.
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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