Rubico acquires newbuilding mega yacht

Group 1 - Rubico has entered into a purchase agreement to acquire a vessel-owning company from Top Ships Inc., which is associated with a shipbuilding contract for a new mega yacht, the M/Y Sanlorenzo 1150Exp [1] - The expected delivery of the mega yacht is from the shipyard in the second quarter of 2027, with a purchase price set at $38 million [1] - The completion of the purchase and sale of the owner's shares is anticipated to occur no later than March 31, 2026 [1] Group 2 - An advance payment of $4 million was made under a letter of intent, which will be credited against the purchase price of the newbuilding mega yacht [1] - A special independent committee, consisting of independent board members, negotiated and approved the acquisition after receiving a fairness opinion from an independent financial advisor [1]