Rubico has filed a registration statement with the SEC for a mixed shelf offering of up to $200 million. The filing enables the company to offer various securities, including debt and equity, in one or more offerings at its discretion.

Filing Details

The mixed shelf registration provides flexibility for Rubico to raise capital through different types of securities. This approach allows the company to respond to market conditions and financing needs as they arise.

The securities covered under this registration may include common stock, preferred stock, debt securities, warrants, and units. The specific terms of any future offerings will be determined at the time of sale.

Rubico Inc. (NASDAQ: RUBI) saw its shares decline in after-hours trading on Tuesday following the announcement of a 1-for-25 reverse stock split approved by its board of directors. The reverse split, effective at the opening of trading on June 26, 2026, aims to increase the market price of the company’s common stock and ensure compliance with Nasdaq’s continued listing requirements. RUBI closed the regular session at $0.39, down 4.59%, and subsequently fell an additional 14.40% to $0.33 in after-hours trading. The company has a market capitalization of approximately $1.28 million, and its shares have declined approximately 100% over the past 12 months, with a 52-week trading range of $14,274.00 to $0.36.

Reverse Stock Split Details

The reverse stock split will be implemented on the Nasdaq Capital Market under the existing trading symbol "RUBI," with a new CUSIP number, Y1250N131, assigned to the common shares following the split. Every 25 issued and outstanding common shares will be automatically converted into one issued and outstanding common share. As of June 23, 2026, the company had 15,126,008 outstanding common shares, which will be reduced to approximately 605,040, adjusted for the cancellation of fractional shares. The split will be executed without any change to the par value of $0.01 per share or the total number of authorized common shares.

Shareholder Impact

The reverse stock split will not affect any shareholder’s ownership percentage, except for the cancellation of fractional shares. No fractional shares will be issued in connection with the reverse stock split. Shareholders entitled to fractional shares due to pre-split holdings not being evenly divisible by 25 will receive a cash payment instead. The cash payment will be calculated based on the fraction of a share multiplied by the closing price of the common shares on Nasdaq on June 25, 2026. Shareholders holding shares in book-entry form or through a bank, broker, or other nominee are not required to take any action, as the adjustment will be reflected in their accounts on or after June 26, 2026.

Operational Context

Rubico Inc. is a global provider of shipping transportation services specializing in vessel ownership. The company operates two modern, fuel-efficient, eco 157,000 dwt Suezmax tankers and holds two newbuilding contracts for a 47,499 dwt chemical/product oil carrier and a 60-meter megayacht. Incorporated under the laws of the Republic of the Marshall Islands, Rubico Inc. has executive offices in Athens, Greece.