Core Viewpoint - Rubico Inc. has entered into a purchase agreement to acquire a vessel-owning company from Top Ships Inc. for a newbuilding mega yacht, M/Y Sanlorenzo 1150Exp, at a price of $38.0 million, with expected delivery in the second quarter of 2027 [1]. Group 1: Acquisition Details - The acquisition involves a shipbuilding contract for the newbuilding mega yacht, with the purchase expected to be finalized by March 31, 2026 [1]. - An advance payment of $4.0 million was made as part of the letter of intent, which will be credited against the total purchase price [2]. - A special independent committee of the Company's board approved the acquisition after receiving a fairness opinion from an independent financial advisor [2]. Group 2: Company Overview - Rubico Inc. specializes in shipping transportation services and vessel ownership, incorporated in the Republic of the Marshall Islands, with executive offices in Athens, Greece [3]. - The Company's common shares are traded on the Nasdaq Capital Market under the symbol "RUBI" [3].
Rubico Inc. Announces Acquisition of Newbuilding Mega Yacht