Rubico Inc. Announces Reverse Stock Split

The reverse split will not directly affect market capitalization or change voting rights.

Rhea-AI Summary

Rubico (Nasdaq: RUBI) will implement a 1-for-25 reverse stock split effective at the opening of trading on October 30, 2026.

Every 25 outstanding common shares will convert into one share, with trading continuing under RUBI on a split-adjusted basis. The 13,517,355 common shares outstanding as of October 28, 2026 will decrease to approximately 540,694 shares, adjusted for fractional-share cancellations. Shareholders will receive cash instead of fractional shares. Rubico expects the split to increase its share price and allow it to maintain compliance with Nasdaq's continued listing requirements.

Positive

• None.

Negative

• Minor point. Forward-looking: it has not happened yet and may not happen.1-for-25 reverse split is intended to raise the share price and maintain Nasdaq listing compliance.

News Explained

The split changes share counts, but Rubico says ownership percentages and market capitalization will be unchanged, except for fractional-share cancellations; the authorized share count also remains unchanged.

Argus 15 min delay 15 alerts

-21.42% vs previous close $0.12 last price 7.9x rel. volume Open Argus

Details

Market move: RUBI -21.42% vs previous close. 1-for-25 reverse stock split

$0.11 – $0.15 Day Range

On Oct 28, the day this news came out, the latest delayed price for RUBI is 21.42% below the previous close. Our momentum scanner has recorded 15 alerts for this stock so far that day. The latest delayed price is $0.12. Relative volume is exceptionally heavy at 7.9x the average.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.

Key Figures

Reverse split ratio: 1-for-25 Effective date: October 30, 2026 Outstanding shares: 13,517,355 to approximately 540,694 shares

Reverse split ratio

1-for-25

Every 25 issued and outstanding common shares convert into 1

Effective date

October 30, 2026

Effective at the opening of trading

Outstanding shares

13,517,355 to approximately 540,694 shares

After the split; adjusted for cancellation of fractional shares

Previous Stock split Reports

4 past events · Latest: Jun 23

Same Type 4 events

1. Jun 23

   Reverse stock split

   24h Move

   -22.5%

   Announced a 1-for-25 reverse split, reducing outstanding shares from 15,126,008 to about 605,040.

2. Apr 07

   Reverse stock split

   24h Move

   -20.6%

   Announced a 1-for-10 reverse split, reducing outstanding shares from 7,573,572 to approximately 757,356.

3. Feb 10

   Reverse stock split

   24h Move

   -3.9%

   Announced a 1-for-7.8 reverse split, reducing outstanding shares from 3,979,412 to about 510,180.

4. Nov 28

   Reverse stock split

   24h Move

   -26.2%

   Announced a 1-for-30 reverse split, reducing outstanding shares from 61,444,087 to approximately 2,048,136.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

reverse stock split, cusip number, par value

3 terms

reverse stock split financial

"effect a 1 for 25 reverse stock split"

A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.

cusip number financial

"The new CUSIP number for the Common Shares following the Reverse Stock Split"

A CUSIP number is a nine-character code that uniquely identifies a specific U.S. or Canadian stock, bond, or other security, similar to a barcode or a social-security number for a financial instrument. It matters to investors because it removes confusion between similar securities, ensures trades and settlements are applied to the correct issue, and helps locate official documents and transaction records quickly.

par value financial

"without any change in (i) the par value per share"

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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ATHENS, Greece, Oct. 28, 2026 (GLOBE NEWSWIRE) -- Rubico Inc. (Nasdaq: RUBI) (the “Company” or “Rubico”), a global provider of shipping transportation services specializing in the ownership of vessels, announced today that its board of directors (the “Board”) has determined to effect a 1 for 25 reverse stock split (the “Reverse Stock Split”) of the Company's issued common shares, par value $0.01 (the “Common Shares”), effective at the opening of trading on October 30, 2026.

Reverse Stock Split

The Reverse Stock Split will be effective, and the Common Shares will begin trading on a split-adjusted basis on the Nasdaq Capital Market (“Nasdaq”), at the opening of trading on October 30, 2026, under the existing trading symbol “RUBI.” The new CUSIP number for the Common Shares following the Reverse Stock Split will be Y1250N 305.

When the Reverse Stock Split becomes effective, every 25 issued and outstanding Common Shares will be automatically converted into 1 issued and outstanding Common Share without any change in (i) the par value per share or (ii) the total number of Common Shares the Company is authorized to issue.

Details

The Reverse Stock Split will not (i) affect any shareholder's ownership percentage of Common Shares (except as a result of the cancellation of fractional shares), (ii) have any direct impact on the market capitalization of the Company, or (iii) modify any voting rights or other terms of the Common Shares. As of October 28, 2026, the Company had 13,517,355 outstanding Common Shares, which will be reduced to approximately 540,694 Common Shares, to be adjusted for cancellation of any fractional shares.

No fractional shares will be created or issued in connection with the Reverse Stock Split. Shareholders who otherwise would be entitled to receive fractional shares because their pre-split holdings of Common Shares are not evenly divisible by the number of pre-split shares for which each post-split share is to be exchanged will receive a cash payment in lieu thereof at a price equal to that fraction of a share to which the shareholder would otherwise be entitled, multiplied by the closing price of the Common Shares on Nasdaq on October 29, 2026.

Shareholders with shares held in book-entry form or through a bank, broker, or other nominee are not required to take any action and will see the impact of the Reverse Stock Split reflected in their accounts on or after October 30, 2026. Such beneficial holders may contact their bank, broker, or nominee for more information.

The purpose of the reverse stock split is to increase the market price of the Company's common stock. The Company believes that the Reverse Stock Split will increase the market price for its common stock and allow it to maintain compliance with Nasdaq's continued listing requirements.

About the Company

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. Furthermore, the Company owns three 47,499 dwt MR tanker newbuildings scheduled for delivery in the second, third and fourth quarters of 2029 and a 60-meter newbuilding megayacht scheduled for delivery in the second quarter of 2027, which the Company intends to divest.

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/

For further information please contact:

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

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts, including statements regarding the consummation of the Reverse Stock Split of the Company's Common Shares, the construction and delivery of the Company's newbuilding vessels and the potential divestiture of the Company's newbuilding megayacht.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intends," "estimate," "forecast," "project," "plan," "potential," "may," "should," "expect," "pending" and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. Please see the Company's filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. 

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When does Rubico's reverse stock split take effect, and what is the ratio?

Rubico's 1-for-25 reverse stock split takes effect at the opening of trading on October 30, 2026. Every 25 outstanding common shares will convert into one common share, and split-adjusted trading will begin that day under RUBI.

How will Rubico pay shareholders for fractional shares in the reverse split?

Shareholders entitled to fractional shares will receive cash instead, calculated by multiplying their fractional entitlement by the closing price of Rubico common shares on Nasdaq on October 29, 2026. No fractional shares will be created or issued.

Do Rubico shareholders need to take action for the reverse stock split?

Shareholders holding shares in book-entry form or through a bank, broker, or other nominee do not need to take action. Their accounts will reflect the reverse split on or after October 30, 2026. Beneficial holders may contact their bank, broker, or nominee for more information.