Rubico Announces Pricing of $4.0 Million Public Offering

Rhea-AI Summary

Rubico (Nasdaq: RUBI) priced a public offering of 6,666,666 units at $0.60 per unit, expected to raise approximately $4.0 million gross before fees. Each unit contains one share (or pre-funded warrant) and 1.5 Class B Warrants, with each Class B Warrant immediately exercisable at $0.60 and expiring five years after issuance. The offering is expected to close on or about January 12, 2026, subject to customary closing conditions; Maxim Group LLC is sole placement agent. A registration statement on Form F-1 (File No. 333-292077) was declared effective on January 9, 2026.

Positive

• Gross proceeds of $4.0 million before fees
• Class B Warrants are immediately exercisable at $0.60

Negative

• Potential dilution up to 16,666,666 shares (6,666,666 units plus 10,000,000 warrant shares)
• Offering price of $0.60 per unit may dilute per-share value

Key Figures

Public offering size $4.0 million Gross proceeds before fees from current offering

Units offered 6,666,666 units Each unit includes common share (or pre-funded warrant) and warrants

Offering price $0.60 per unit Public offering price for each unit

Class B warrant coverage 1.5 warrants per unit Each unit includes 1.5 Class B Warrants

Warrant exercise price $0.60 per share Exercise price for each Class B Warrant

Warrant term 5 years Class B Warrants expire five years after issuance

Form F-1 file number 333-292077 Registration statement covering this offering

Expected closing date January 12, 2026 Anticipated closing of the public offering

Market Reality Check

$0.8400 Last Close

Volume Volume 321,348 is well below the 1,034,066 share 20-day average, suggesting limited pre-news activity. low

Technical Shares at $0.9294 are trading well below the 200-day MA of $42.19 and just above the $0.89 52-week low.

Peers on Argus 1 Up

RUBI was down 2.7% while peers were mixed: OP up 7.81%, ICON up 5.23%, USEA down 2.25%, CTRM down 1.4%, EHLD up 2%, indicating the offering news was stock-specific rather than a broad marine shipping move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 31	Acquisition agreement	Positive	-1.8%	Definitive deal to acquire newbuilding mega yacht for <b>$38M</b>.
Dec 04	Acquisition LOI	Neutral	-7.2%	Letter of intent for potential mega yacht purchase with <b>$4M</b> deposit.
Nov 28	Reverse stock split	Negative	-26.2%	Announced <b>1-for-30</b> reverse split to support Nasdaq compliance.
Nov 25	Charter extensions	Positive	+54.2%	Time charter extensions lifting backlog to <b>$120.8M</b> committed revenue.
Nov 12	Fleet refinancing	Positive	-13.9%	Sale-and-leaseback financings releasing <b>$10.4M</b> cash from tankers.

Pattern Detected

RUBI has often sold off on corporate actions and financings, even when underlying operational news was constructive.

Recent Company History

Over the last few months, Rubico reported several balance-sheet and fleet developments. On Nov 12, 2025, it completed fleet refinancing, releasing $10.4M cash but shares fell 13.91%. A major charter update on Nov 25, 2025 with a $120.8M revenue backlog saw a strong 54.22% gain. A 1-for-30 reverse split announced on Nov 28, 2025 led to a 26.18% drop. Subsequent mega-yacht LOI and acquisition steps also drew negative reactions, framing today’s equity offering within a pattern of dilution-sensitive trading.

Market Pulse Summary

This announcement details a unit offering of 6,666,666 units at $0.60, with attached five-year Class B warrants and expected gross proceeds of $4.0M. It follows an earlier underwritten offering and extensive F-1 and 424B3 activity. Investors may monitor how proceeds are allocated relative to prior yacht and fleet plans, as well as any further equity-raising or reverse-split decisions flagged in recent regulatory filings.

Key Terms

pre-funded warrants financial

"one share of the Company’s common stock (or pre-funded warrants in lieu thereof)"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

class b warrants financial

"and 1.5 Class B Warrants to purchase shares of common stock"

Class B warrants are tradable contracts that give the holder the right to buy a company's Class B shares at a fixed price before a set date. Think of them as a coupon for a specific model of a product: if the market price of those Class B shares rises above the coupon price, the warrant lets an investor buy shares more cheaply, offering leveraged upside but also the potential to dilute existing owners when converted.

exercise price financial

"immediately exercisable for one share of common stock at an exercise price of $0.60 per share"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

gross proceeds financial

"Gross proceeds to the Company, before deducting placement agent’s fees"

The total amount of cash a company receives from a financing event or sale before any fees, expenses, taxes or deductions are taken out. Investors watch gross proceeds because it shows the raw scale of new capital being raised—think of it as the paycheck amount before withholdings—which helps assess how much funding is available for operations, growth, debt payoff or how much shareholder dilution might occur once costs are removed.

placement agent financial

"Maxim Group LLC is acting as sole placement agent in connection with the offering"

A placement agent is a professional or firm that helps organizations raise money from investors, such as individuals, institutions, or funds. They act like matchmakers, connecting those seeking investments with the right investors and guiding the process to ensure successful funding. For investors, they can provide access to exclusive opportunities and help navigate complex fundraising efforts.

registration statement on form f-1 regulatory

"A registration statement on Form F-1 (File No. 333-292077)"

A registration statement on Form F-1 is a legal document companies file with regulators to offer their shares to investors in a foreign country or market. It provides essential information about the company's business, finances, and risks, helping investors make informed decisions about whether to buy its stock. This process ensures transparency and protects investors by making company details publicly available before trading begins.

prospectus regulatory

"A final prospectus relating to the offering will be filed with the SEC"

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

securities and exchange commission regulatory

"filed with the U.S. Securities and Exchange Commission (“SEC”)"

A national government agency that enforces rules for buying, selling and disclosing information about stocks and other investments, acting like a referee and scorekeeper for financial markets. It requires companies to share clear, regular financial and business information and investigates fraud or rule-breaking, which matters to investors because those rules and disclosures help ensure fair prices, reduce hidden risks and make it easier to compare investment choices.

AI-generated analysis. Not financial advice.

ATHENS, Greece, Jan. 09, 2026 (GLOBE NEWSWIRE) -- Rubico Inc. (“Rubico” or the “Company”) (Nasdaq: RUBI), a global provider of shipping transportation services specializing in the ownership of vessels, today announced the pricing of its public offering of 6,666,666 units, each consisting of one share of the Company’s common stock (or pre-funded warrants in lieu thereof) and 1.5 Class B Warrants to purchase shares of common stock, at a public offering price of $0.60 per unit. Each Class B Warrant is immediately exercisable for one share of common stock at an exercise price of $0.60 per share and expires five years after the issuance date.

Gross proceeds to the Company, before deducting placement agent’s fees and other offering expenses, are expected to be approximately $4.0 million. The offering is expected to close on or about January 12, 2026, subject to the satisfaction of customary closing conditions.  

Maxim Group LLC is acting as sole placement agent in connection with the offering.

A registration statement on Form F-1 (File No. 333-292077), as amended, was filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on January 9, 2026. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. The offering is being made only by means of a prospectus forming part of the effective registration statement. Electronic copies of the prospectus relating to this offering, when available, may also be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022, Attention: Syndicate Department, by telephone at (212) 895-3745 or by email at syndicate@maximgrp.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Rubico Inc.

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

The Company is incorporated under the laws of the Republic of the Marshall Islands and has executive offices in Athens, Greece. The Company's common shares trade on the Nasdaq Capital Market under the symbol “RUBI”.

Please visit the Company’s website at: https://rubicoinc.com/

Forward Looking Statements

This communication contains “forward-looking statements.” Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions that are other than statements of historical fact are forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant risks, uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, the Company cannot provide assurance that it will achieve or accomplish these expectations, beliefs or projections. The Company’s actual results could differ materially from those anticipated in forward-looking statements for many reasons, including as described in the Company’s filings with the SEC. As a result, you are cautioned not to unduly rely on any forward-looking statements, which speak only as of the date of this communication.

Factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, among other things: statements regarding the completion of the offering; the satisfaction of customary closing conditions related to the offering; the Company’s future operating or financial results; the Company’s liquidity, including its ability to service any indebtedness; changes in shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations; broader market impacts arising from war (or threatened war) or international hostilities; risks associated with pandemics; uncertainties surrounding recently implemented and suspended port fee regimes in the United States and China; and other factors listed from time to time in the Company’s filings with the SEC. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. You should, however, review the factors and risks the Company describes in the reports it files and furnishes from time to time with the SEC, which can be obtained free of charge on the SEC’s website at www.sec.gov.

Contact Information

Nikolaos Papastratis
Chief Financial Officer
Rubico Inc.
Tel: +30 210 812 8107
Email: npapastratis@rubicoinc.com

FAQ

How many units did Rubico (RUBI) offer and at what price?

Rubico offered 6,666,666 units at $0.60 per unit.

What does the Rubico offering mean for potential dilution of RUBI shares?

The offering could result in up to 16,666,666 new shares (6,666,666 initial shares plus 10,000,000 warrant shares) if all warrants are exercised.

When is the Rubico (RUBI) offering expected to close?

The offering is expected to close on or about January 12, 2026, subject to customary closing conditions.

What are the exercise terms of the Class B Warrants in the RUBI offering?

Each Class B Warrant is exercisable immediately for one share at an exercise price of $0.60 and expires five years after issuance.

Who is the placement agent for Rubico's $4.0 million offering?

Maxim Group LLC is acting as the sole placement agent for the offering.