[6-K] Robin Energy Ltd. Current Report (Foreign Issuer)

Rhea-AI Filing Summary

Myriad Genetics (MYGN) filed an 8-K disclosing a new secured Credit Agreement with OrbiMed Royalty & Credit Opportunities IV, LP.

• Size & Funding: $200 million facility consisting of (i) a $125 million term loan funded 31 Jul 25 and (ii) up to $75 million in delayed-draw loans available until 30 Jun 27.
• Cost of debt: interest equals the greater of 1-mo SOFR or 2.50% plus a 6.50% margin, establishing a current floor rate of 9.0%.
• Maturity & amortisation: facility matures 31 Jul 30. Quarterly principal amortisation of 2.5% of the 31 Jul 29 balance starts 30 Sep 29.
• Optional/Mandatory prepayment: voluntary prepay allowed subject to premiums; mandatory with certain asset sale or debt proceeds, plus exit fee & accrued interest.
• Security & guarantees: first-lien on substantially all assets of the parent and material subsidiaries; guaranty by those subsidiaries.
• Financial covenant: minimum TTM revenue test beginning Dec 25 at $615 m, stepping up quarterly to $974 m by Dec 29.
• Covenants & defaults: customary limitations on liens, debt, asset sales, investments, restricted payments, M&A, hedging; standard default triggers and change-of-control clause.
• Use of proceeds: working capital, general corporate purposes and refinancing of existing indebtedness.

No earnings data were provided; the filing principally affects liquidity, leverage and covenant structure.

Positive

• Immediate $125 million cash infusion strengthens short-term liquidity for working capital and debt refinancing.
• Additional $75 million delayed-draw option provides funding flexibility through mid-2027.

Negative

• High minimum 9% interest cost increases annual expense, pressuring margins.
• First-lien on substantially all assets restricts future borrowing capacity and subordinates existing unsecured creditors.
• Escalating revenue covenant demands growth to $974 m by 2029, creating potential default risk if targets are missed.

Insights

Corporate Debt Analyst

TL;DR: MYGN gains $125 m liquidity but assumes high-cost, covenant-heavy secured debt; leverage flexibility tightens, revenue covenants bite by Dec 25.

The 9%+ all-in rate reflects MYGN’s non-investment-grade profile and rising rate backdrop. Access to another $75 m gives optionality, yet the lien on substantially all assets subordinates existing unsecured creditors and limits future borrowing capacity. The step-up revenue covenant requires ~58% growth from the FY-23 run-rate (~$615 m vs. $974 m by 4Q-29), pressuring management to sustain expansion or refinance early. Prepayment premiums and exit fees add cost if the company delevers. Overall, the agreement bolsters near-term liquidity but raises medium-term refinancing and covenant-breach risk.

Portfolio Manager

TL;DR: Liquidity positive today, but 9% debt and tight covenants curb equity upside and raise downside risk.

Equity holders gain runway for pipeline investment and refinancing of legacy debt, yet the secured structure and revenue tests cap strategic flexibility. Failure to hit covenant ramps could trigger accelerated repayment just as amortisation starts. The neutral rating reflects balanced benefits and risks; impact hinges on execution against growth targets.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2025

Commission File Number 001-42543

ROBIN ENERGY LTD.

(Translation of registrant’s name into English)

223 Christodoulou Chatzipavlou Street

Hawaii Royal Gardens

3036 Limassol, Cyprus

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Attached to this report on Form 6-K as Exhibit 99.1 is a copy of the press release issued by Robin Energy Ltd. (the “Company”) on July 31, 2025, titled “Robin Energy Ltd. Adopts Bitcoin as Primary Treasury Reserve Asset with $5 Million Initial Allocation.”

The information contained in this report on Form 6-K and Exhibit 99.1 attached hereto are hereby incorporated by reference into the Company’s registration statements on Form F-3 (Reg. No. 333-286726 and Reg. No. 333-288459).

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release of Robin Energy Ltd., dated as of July 31, 2025

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: July 31, 2025
ROBIN ENERGY LTD.
By:	/s/ Petros Panagiotidis
Name:	Petros Panagiotidis
Title:	Chairman and Chief Executive Officer

FAQ

What is the size of Myriad Genetics' new credit facility (MYGN)?

The agreement provides a $200 million term loan facility: $125 million funded at closing and up to $75 million delayed-draw until 30 Jun 27.

What interest rate will MYGN pay on the new loan?

The rate equals the greater of 1-month SOFR or 2.50% plus a 6.50% margin, setting a current floor of roughly 9.0% per annum.

When does the credit facility mature and when do amortisation payments begin?

Maturity is 31 Jul 2030. Quarterly principal payments of 2.5% of the 4-year balance start on 30 Sep 2029.

What financial covenant is included in the agreement?

MYGN must meet a minimum trailing-twelve-month revenue test beginning Dec 25 at $615 m, rising quarterly to $974 m by Dec 29.

How will Myriad Genetics use the proceeds from this loan?

Funds will support working capital, general corporate purposes and refinancing of existing indebtedness.

Can MYGN prepay the loan early?

Yes, but voluntary prepayments require repayment premiums plus accrued interest; mandatory prepayment applies to asset sale or debt proceeds.