Rubico Inc. has terminated a common stock purchase agreement with B. Riley Principal Capital II, LLC that allowed the company to sell up to $30,000,000 of its common shares. The agreement, originally entered into on July 21, 2025, was terminated on July 20, 2026. Prior to the termination, the company had sold approximately $27.1 million of its common shares pursuant to the agreement.

Operational Overview

Rubico Inc. is a global provider of shipping transportation services specializing in the ownership of vessels. The company operates as an international owner and operator of two modern, fuel-efficient, eco 157,000 dwt Suezmax tankers.

Future Deliveries

The company's fleet expansion includes two 47,499 dwt MR tanker newbuildings. These vessels are scheduled for delivery in the third and fourth quarters of 2029. Additionally, Rubico owns a 60 meter newbuilding megayacht scheduled for delivery in the second quarter of 2027, which the company intends to divest.

Corporate Details

Rubico Inc. is incorporated under the laws of the Republic of the Marshall Islands and maintains executive offices in Athens, Greece. The company’s common shares trade on the Nasdaq Capital Market under the symbol "RUBI".

Rubico Inc., a global provider of shipping transportation services specializing in the ownership of vessels, estimated its net asset value (NAV) at $183.1 million as of June 30, 2026. This figure represents a 94% increase from the previous NAV reported on March 2, 2026. The surge in valuation is attributed to updated charter free vessel value estimates from third-party international brokers, alongside considerations for outstanding debt and cash.

The company’s management calculated the NAV based on the number of common shares currently outstanding. On a basic basis, the NAV stands at $300.26 per common share. On a fully diluted basis, which assumes the exercise of all 669,193 outstanding warrants and the conversion of all the Series G Convertible Preferred Shares, the NAV is $72.22 per common share.

Valuation Breakdown

The following table outlines the key per-share values derived from the June 30, 2026 assessment:

The fully diluted calculation factors in the potential impact of all outstanding warrants and the conversion of preferred shares, providing a comprehensive view of the company’s equity value.