AI OKTO Corp. reported unaudited predecessor carve-out results for its liquefied petroleum gas (LPG) carrier business for the six months ended June 30, 2026. Vessel revenue was $4,205,437, compared with $7,528,174 a year earlier; the decrease reflected 362 Available Days versus 678 after LPG Dream Syrax was sold on September 3, 2025, and LPG Dream Terrax on September 25, 2025. Net income was $187,798, compared with $70,734, while net cash provided by operating activities was $981,393 versus $2,301,846.
Toro completed the spin-off on October 8, 2026, contributing the LPG subsidiaries and $45,000,000 in cash. Toro shareholders received one AI OKTO common share for every eight Toro shares held on October 1, 2026. Petros Panagiotidis, AI OKTO’s and Toro’s Chairman and Chief Executive Officer, may be deemed to beneficially own 74.2% of AI OKTO’s outstanding common shares and all Series B preferred shares, representing 99.97% of aggregate voting power.
AI OKTO operated two vessels as of October 15, 2026. Of approximately $18.7 million due from Toro on the Distribution Date, $17.9 million was received on October 8, 2026, with the remainder expected by the end of the fourth quarter of 2026.
AI OKTO Corp. director Petros Zavakopoulos reported a direct holding of 7,500 Common Shares, dated October 8, 2026.
AI OKTO Corp. Chief Executive Officer Petros Panagiotis Panagiidis reported indirect holdings of 3,206,185 common shares through Pani Corp. and 40,000 Series B Preferred Shares through Pelagos Holdings Corp.; both entities are controlled by him. He may be deemed to beneficially own the securities through that control, but disclaims beneficial ownership except to the extent of any pecuniary interest.