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Toro Corp. and Castor Maritime Inc. agree the Full Redemption of the 8.75% Series E Cumulative Perpetual Convertible Preferred Shares
Globenewswire· 2025-10-15 13:15
Core Viewpoint - Toro Corp. has announced the full redemption of 60,000 shares of Castor Maritime Inc.'s 8.75% Series E Cumulative Perpetual Convertible Preferred Shares for cash consideration, including accrued distributions [1][2]. Group 1: Company Overview - Toro Corp. is an international energy transportation services provider with a modern fleet that includes two LPG carriers and two MR tanker vessels, transporting petrochemical gases and refined petroleum products globally [3]. - The company is incorporated under the laws of the Republic of the Marshall Islands and its common shares are traded on the Nasdaq Capital Market under the symbol "TORO" [3]. Group 2: Transaction Details - The redemption of the Series E Preferred Shares was approved by the boards of directors of both Toro and Castor, following recommendations from their respective special committees of independent directors [2]. - The cash consideration for the redemption is equal to the stated amount of the Series E Preferred Shares plus an additional 0.523% [1].
Toro Corp. Announces the Sale of the LPG Carrier Dream Terrax
Globenewswire· 2025-09-16 13:15
Core Viewpoint - Toro Corp. has announced the sale of the Dream Terrax LPG Carrier vessel for $20 million to a subsidiary of Robin Energy Ltd., which is controlled by Toro's Chairman and CEO [1][2]. Group 1: Transaction Details - The transaction was approved by independent members of the Boards of Toro and Robin, following recommendations from special committees [2]. - The Dream Terrax, a 2020-built 5,000 cbm LPG Carrier, is expected to be delivered in 2025, pending customary closing conditions [1][2]. Group 2: Company Overview - Toro Corp. is a global energy transportation services provider with a modern fleet, which will consist of two LPG carriers and one MR tanker after the sale [3]. - The company is incorporated in the Republic of the Marshall Islands and trades on the Nasdaq Capital Market under the symbol "TORO" [3].
Toro Corp. Announces Results of its 2025 Annual General Meeting of Shareholders
Globenewswire· 2025-09-15 13:00
Core Points - Toro Corp. held its 2025 Annual General Meeting of Shareholders on September 12, 2025, in Limassol, Cyprus [1] - The meeting resulted in the re-election of Mr. Angelos Rounick Platanias as Class B Director until the 2028 Annual General Meeting [3] - Deloitte Certified Public Accountants S.A. was appointed as the independent auditors for the fiscal year of 2025 [3] Company Overview - Toro Corp. is a global energy transportation services provider with a modern fleet of oceangoing vessels [2] - The company owns three LPG carriers and one MR tanker vessel, which transport petrochemical gases and refined petroleum products worldwide [2]
Bitcoin Investment Drives Robin Energy Stock Up 100% as Company Allocates $5M in BTC
Yahoo Finance· 2025-09-10 22:01
Core Viewpoint - Robin Energy Ltd. has strategically allocated $5 million in Bitcoin to enhance operational efficiency and adapt its treasury management to the evolving digital asset market [1][2]. Group 1: Company Strategy - The allocation of Bitcoin is part of a broader diversification strategy for Robin Energy, which also operates a Handysize tanker and an LPG carrier for petrochemical gases and petroleum products [3]. - CEO Petros Panagiotidis highlighted that Bitcoin's scarcity aligns with the company's long-term growth and shareholder value objectives [2]. - The company plans to continuously monitor market trends and may adjust its Bitcoin allocation based on future developments [2][6]. Group 2: Market Reaction - Following the announcement, Robin Energy's stock price surged nearly 100% on September 10, 2025, reaching an intraday high above $4.20 before retreating [4]. - The stock had previously traded around $1.87 throughout August, indicating a significant market response to the Bitcoin allocation [4]. - Trading volume increased dramatically, attracting both retail and institutional investors, reflecting a strong market interest in companies engaging with digital assets [5]. Group 3: Custody and Compliance - Robin Energy's Bitcoin allocation utilizes Anchorage Digital's regulated platform, emphasizing the company's preference for secure and compliant custody solutions [6]. - The company retains flexibility in its treasury policy, with future allocations contingent on market conditions and board decisions [6]. Group 4: Industry Positioning - With this allocation, Robin Energy becomes the 110th public company to manage cryptocurrency holdings as part of its treasury strategy, joining a growing trend among public companies [7].
Toro Corp. Announces the Completion of the Sale of the LPG Carrier Dream Syrax
Globenewswire· 2025-09-04 13:00
Core Viewpoint - Toro Corp. has successfully completed the sale of the Dream Syrax, a 2015-built 5,000 cbm LPG Carrier vessel, to its new owner on September 3, 2025 [1] Company Overview - Toro Corp. is a global energy transportation services provider with a modern fleet of oceangoing vessels [2] - The company owns three LPG carrier vessels and one MR tanker vessel, which transport petrochemical gases and refined petroleum products worldwide [2] - Toro Corp. is incorporated under the laws of the Republic of the Marshall Islands and its common shares trade on the Nasdaq Capital Market under the symbol "TORO" [2]
Toro Corp. Announces Final Results of Tender Offer for Common Shares
Globenewswire· 2025-08-11 20:05
Core Points - Toro Corp. announced the final results of its tender offer which expired on August 7, 2025 [1] - A total of 20,344 common shares were properly tendered and will be purchased at a price of $2.75 per share, resulting in an aggregate cost of approximately $55,946.00 [2] Company Overview - Toro Corp. is a global energy transportation services provider operating a modern fleet of oceangoing vessels, which will consist of three LPG carriers and one MR tanker vessel after the sale of one LPG carrier [5] - The company's common shares are traded on the Nasdaq Capital Market under the symbol "TORO" [6]
Robin Energy Ltd. Adopts Bitcoin as Primary Treasury Reserve Asset with $5 Million Initial Allocation
Globenewswire· 2025-07-31 13:15
Core Viewpoint - Robin Energy Ltd. has officially endorsed Bitcoin as a primary treasury reserve asset, allocating $5 million for this purpose, reflecting a strategic decision to optimize its balance sheet for long-term value creation [1][3]. Group 1: Treasury Management Strategy - The company has adopted a comprehensive Bitcoin treasury framework, targeting up to 50% of its long-term cash reserves for potential Bitcoin purchases, which will be executed through disciplined dollar-cost averaging [2]. - The Bitcoin purchases will be funded entirely through existing cash reserves, ensuring that operational liquidity and growth initiatives remain unaffected [3][4]. Group 2: Leadership Commentary - Petros Panagiotidis, Chairman and CEO, emphasized that the endorsement of Bitcoin is a strategic decision aimed at leveraging Bitcoin's characteristics for inflation hedging and portfolio diversification [3]. Group 3: Company Overview - Robin Energy is an international ship-owning company that provides energy transportation services globally, owning one Handysize tanker vessel and one LPG carrier [5].
Toro Corp. Announces the Date of its 2025 Annual General Meeting of Shareholders
Globenewswire· 2025-07-29 13:00
Company Overview - Toro Corp. is a global energy transportation services provider operating a modern fleet of oceangoing vessels [3] - The company will have a fleet comprising three LPG carriers and one MR tanker vessel after completing the sale of one of its LPG carriers [3] - Toro Corp. is incorporated under the laws of the Republic of the Marshall Islands and its common shares trade on the Nasdaq Capital Market under the symbol "TORO" [4] Annual General Meeting - The Board of Directors has scheduled the 2025 Annual General Meeting of Shareholders to be held on September 12, 2025, at 5:00 p.m. local time in Limassol, Cyprus [1] - A record date of July 14, 2025, has been fixed for determining shareholders entitled to receive notice of and vote at the Meeting [1] - The Notice of the Meeting and Proxy Statement will be mailed to shareholders of record around July 29, 2025, and will also be available on the SEC's website and the company's website [2]
Toro Corp. Commences Self Tender Offer to Purchase up to 4,500,000 Shares
Globenewswire· 2025-07-10 13:00
Core Viewpoint - Toro Corp. is initiating a tender offer to repurchase up to 4,500,000 shares at a price of $2.75 per share, reflecting the company's strong cash position and current stock price [1]. Group 1: Tender Offer Details - The tender offer will expire on August 7, 2025, at 5:00 P.M. Eastern Time, unless extended or withdrawn [1]. - The Board of Directors believes that repurchasing shares is in the best interest of the company at this time [1]. - The tender offer is not conditioned upon any minimum number of shares being tendered [1]. Group 2: Administrative Information - Toro has appointed Broadridge Corporate Issuer Solutions LLC as the depositary and Georgeson LLC as the information agent for the tender offer [2]. - Shareholders will receive copies of the Offer to Purchase and related materials by mail, and additional copies can be obtained from the information agent [3]. Group 3: Company Overview - Toro Corp. operates a modern fleet of oceangoing vessels, including four LPG carriers and one MR tanker [5]. - The company is incorporated under the laws of the Republic of the Marshall Islands and trades on the Nasdaq Capital Market under the symbol "TORO" [6].
Toro Corp. Announces the Sale of the LPG Carrier Dream Syrax
Globenewswire· 2025-07-10 12:30
Core Viewpoint - Toro Corp. has entered into an agreement to sell the Dream Syrax, a 2015-built 5,000 cbm LPG Carrier vessel, to a subsidiary of Robin Energy Ltd. for $18 million [1][2]. Company Overview - Toro Corp. is a global energy transportation services provider operating a modern fleet of oceangoing vessels. After the sale, the company's fleet will consist of three LPG carriers and one MR tanker [3]. Transaction Details - The transaction was approved by independent members of the Boards of Toro and Robin, following negotiations by special committees of independent directors [2]. - The vessel is expected to be delivered to its new owner in the third quarter of 2025, pending customary closing conditions [2].