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Rubico (NASDAQ: RUBI) registers 75,000 shares; NAV $94.2M

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
424B3

Rhea-AI Filing Summary

Rubico Inc. files a prospectus supplement registering 75,000 common shares for resale by selling shareholders. Management also published a NAV estimate of $94.2 million, or $22.88 per common share and $15.08 fully diluted (assuming exercise of all 2,128,854 outstanding warrants).

The company states its two modern 157,000 dwt Suezmax tankers have an average age of about five years and that time charters generate positive cashflow until their fixed period expires in Q1 2031. The CEO noted the shares trade at a 94.4% discount to fully diluted NAV.

Positive

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Insights

Management disclosed a third-party-based NAV and quantified fully diluted effects from warrants.

Management estimates NAV at $94.2 million, yielding $22.88 per share and $15.08 fully diluted assuming exercise of 2,128,854 warrants. The estimate incorporates broker charter-free vessel values, debt and cash.

Key dependencies include the broker valuation inputs and warrant conversion assumptions; subsequent filings or audited valuations may alter these figures. Timing referenced includes NAV as of December 31, 2025 and charter expirations in Q1 2031.

Filed Pursuant to Rule 424(b)(3)

Registration No. 333-289552

 

PROSPECTUS SUPPLEMENT NO. 14

(TO PROSPECTUS DATED SEPTEMBER 19, 2025)

 

 

75,000 Common Shares

Offered by the Selling Shareholders

 

RUBICO INC.

 

This is a supplement (the “Prospectus Supplement”) to the prospectus, dated September 19, 2025 (as supplemented or amended from time to time, the “Prospectus”) of Rubico Inc. (the “Company”), which forms a part of the Company’s Registration Statement on Form F-1 (Registration No. 333-289552), as amended from time to time.

 

This Prospectus Supplement is being filed to update and supplement the information included in the Prospectus with the information contained in the Company’s Report on Form 6-K, furnished to the U.S. Securities and Exchange Commission (the “Commission”) on March 2, 2026 (the “Form 6-K”). Accordingly, the Form 6-K is attached to this Prospectus Supplement. 

 

This Prospectus Supplement should be read in conjunction with, and delivered with, the Prospectus and is qualified by reference to the Prospectus except to the extent that the information in this Prospectus Supplement supersedes the information contained in the Prospectus.

 

This Prospectus Supplement is not complete without, and may not be delivered or utilized except in connection with, the Prospectus, including any amendments or supplements to it.

 

Investing in our securities involves a high degree of risk. See “Risk Factors” beginning on page 8 of the Prospectus for a discussion of information that should be considered in connection with an investment in our securities.

 

Neither the Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

 

 

The date of this prospectus supplement is March 2, 2026.

 

 

 

 

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 March 2026

 

Commission File Number: 001-42684

 

Rubico Inc.
(Translation of registrant's name into English)

 

20 Iouliou Kaisara Str
19002 Paiania
Athens, Greece

(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 [ X ] Form 40-F [ ]

 

 

 

 

On March 2, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

Exhibit 99.1. Press release dated March 2, 2026

 

 

 

 

 

 

 

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.

 

    Rubico Inc.
    (Registrant)
     
     
Date: March 2, 2026   /s/ Nikolaos Papastratis
    Nikolaos Papastratis
    Chief Financial Officer
     

 

 

 

 

EXHIBIT 99.1

Rubico Announces Management Estimate of Net Asset Value to $94.2 Million

ATHENS, Greece, March 02, 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 after taking into account the most recent charter free vessel value estimates from a third party international broker, debt outstanding and cash, management estimates the Company’s net asset value (“NAV”) as of December 31, 2025 to be $94.2 million. This translates into a NAV of $22.88 per common share (based on number of common shares currently outstanding) and $15.08 per common share on a fully diluted basis (assuming exercise of all the 2,128,854 outstanding warrants and prefunded warrants).

The Company’s CEO said:

“As per the latest market close, we are trading at a 94.4% discount to the Company’s current estimate of the fully-diluted NAV of the Company. The company’s fleet has an average age of about five years, consisting of state-of-the-art vessels equipped with the latest eco-friendly and fuel-efficient specifications and features. Our time charters with high quality customers have been generating positive cashflow and income and we expect that they will continue the same way until their fixed period expires in Q1 2031.”

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.   

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 with respect to the Company’s future operational performance and the trading of the Company’s shares.

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

What amount of shares did Rubico (RUBI) register for resale?

Rubico registered 75,000 common shares for resale by selling shareholders. This appears in the prospectus supplement dated March 2, 2026, which supplements the Form F-1 registration statement.

What NAV did Rubico report and what per-share values were disclosed?

Management estimated a NAV of $94.2 million, equal to $22.88 per common share. Fully diluted NAV is $15.08 per share, which assumes exercise of all 2,128,854 outstanding warrants.

How does Rubico describe its fleet and charter profile in the release?

The company states it owns two modern 157,000 dwt Suezmax tankers with an average age of ~five years. Time charters are stated to generate positive cashflow and run until Q1 2031.

What discount to NAV did Rubico note and how was it framed?

Rubico's CEO said the company is trading at a 94.4% discount to the company's estimated fully diluted NAV. The statement compares market price at the latest close to management's NAV estimate.

Are warrant and dilution figures disclosed in the filing?

Yes. The prospectus supplement discloses 2,128,854 outstanding warrants and prefunded warrants, and uses that number to calculate the $15.08 fully diluted NAV per common share.
Rubico Inc

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Marine Shipping
Industrials
Marshall Islands
Majuro