Arena Investors reports no Rubico Inc. (RUBI) ownership stake

Rhea-AI Filing Summary

Arena Investors, LP and affiliated funds filed an amended Schedule 13G reporting their current position in Rubico Inc. common stock. The filing states that each reporting person has aggregate beneficial ownership of 0 shares of Rubico common stock, representing 0.0% of the class.

The group reports no sole or shared voting or dispositive power over any Rubico shares and indicates ownership of 5 percent or less of the class. They also certify that the securities referenced were not acquired and are not held for the purpose of changing or influencing control of Rubico Inc.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Rubico Inc.

(Name of Issuer)

Common Stock, $0.01 par value per share

(Title of Class of Securities)

Y1250N107

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. Y1250N107

1

Names of Reporting Persons

Arena Investors, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. Y1250N107

1

Names of Reporting Persons

Arena Investors GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. Y1250N107

1

Names of Reporting Persons

Arena Special Opportunities (Offshore) Master, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. Y1250N107

1

Names of Reporting Persons

Arena Special Opportunities Fund (Offshore) II GP, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. Y1250N107

1

Names of Reporting Persons

Arena Special Opportunities Fund (Offshore) GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. Y1250N107

1

Names of Reporting Persons

Arena Special Opportunities Parallel Investor Vehicle III US, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. Y1250N107

1

Names of Reporting Persons

Arena Special Opportunities Parallel Investor Vehicle III GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. Y1250N107

1

Names of Reporting Persons

Arena Special Opportunities Partners III, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. Y1250N107

1

Names of Reporting Persons

Arena Special Opportunities Partners III GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Rubico Inc.
(b)	Address of issuer's principal executive offices: VAS SOFIAS 1 & MEG. ALEXANDROU, VAS SOFIAS 1 & MEG. ALEXANDROU, ATHENS, GREECE, 0000
Item 2.
(a)	Name of person filing: This Schedule 13G is filed by the following (the "Reporting Persons"): (i) Arena Investors, LP (the "Investment Manager"), who serves as investment manager to the Arena Funds (as defined below); (ii) Arena Investors GP, LLC, who serves as the general partner of the Investment Manager (the "IM General Partner"); (iii) Arena Special Opportunities (Offshore) Master, LP ("ASOFM"); (iv) Arena Special Opportunities Fund (Offshore) II GP, LP, who serves as the general partner of ASOFM (the "ASOFM General Partner"); (v) Arena Special Opportunities Fund (Offshore) GP, LLC, who serves as the general partner of the ASOFM General Partner (the "ASOFM GP General Partner"); (vi) Arena Special Opportunities Parallel Investor Vehicle III US, LP ("ASOIII"); (vii) Arena Special Opportunities Parallel Investor Vehicle III GP, LLC, who serves as the general partner of ASOIII (the "ASOIII General Partner"); (viii) Arena Special Opportunities Partners III, LP ("ASOPIII"; and collectively with ASOFM and ASOIII, the "Arena Funds"); and (ix) Arena Special Opportunities Partners III GP, LLC, who serves as the general partner of ASOPIII (the "ASOPIII General Partner"). The Arena Funds are private investment vehicles. The Arena Funds directly beneficially own the Common Stock reported in this Schedule 13G. The Investment Manager and the IM General Partner may be deemed to beneficially own the Common Stock directly beneficially owned by the Arena Funds. The ASOFM General Partner and the ASOFM GP General Partner may be deemed to beneficially own the Common Stock directly beneficially owned by ASOFM. The ASOIII General Partner may be deemed to beneficially own the Common Stock directly beneficially owned by ASOIII. The ASOPIII General Partner may be deemed to beneficially own the Common Stock directly beneficially owned by ASOPIII. Each Reporting Person disclaims beneficial ownership with respect to any Common Stock other than the Common Stock directly beneficially owned by such Reporting Person.
(b)	Address or principal business office or, if none, residence: The principal business office of the Reporting Persons is 2500 Westchester Avenue, Suite 401, Purchase, New York 10577.
(c)	Citizenship: For citizenship or place of organization see Item 4 of the cover page of each Reporting Person.
(d)	Title of class of securities: Common Stock, $0.01 par value per share
(e)	CUSIP No.: Y1250N107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Aggregate - 0; see also Item 9 on the cover page for each Reporting Person.
(b)	Percent of class: Aggregate - 0%; see also Item 11 on the cover page for each Reporting Person.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 on the cover page for each Reporting Person.
	(ii) Shared power to vote or to direct the vote: See Item 6 on the cover page for each Reporting Person.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 on the cover page for each Reporting Person.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 on the cover page for each Reporting Person.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Arena Investors, LP

Signature:	Tsering Lama
Name/Title:	Authorized Signatory
Date:	02/13/2026

Arena Investors GP, LLC

Signature:	Tsering Lama
Name/Title:	Authorized Signatory
Date:	02/13/2026

Arena Special Opportunities (Offshore) Master, LP

Signature:	Tsering Lama
Name/Title:	Authorized Signatory
Date:	02/13/2026

Arena Special Opportunities Fund (Offshore) II GP, LP

Signature:	Tsering Lama
Name/Title:	Authorized Signatory
Date:	02/13/2026

Arena Special Opportunities Fund (Offshore) GP, LLC

Signature:	Tsering Lama
Name/Title:	Authorized Signatory
Date:	02/13/2026

Arena Special Opportunities Parallel Investor Vehicle III US, LP

Signature:	Tsering Lama
Name/Title:	Authorized Signatory
Date:	02/13/2026

Arena Special Opportunities Parallel Investor Vehicle III GP, LLC

Signature:	Tsering Lama
Name/Title:	Authorized Signatory
Date:	02/13/2026

Arena Special Opportunities Partners III, LP

Signature:	Tsering Lama
Name/Title:	Authorized Signatory
Date:	02/13/2026

Arena Special Opportunities Partners III GP, LLC

Signature:	Tsering Lama
Name/Title:	Authorized Signatory
Date:	02/13/2026

FAQ

What does the Rubico Inc. (RUBI) Schedule 13G/A filed by Arena Investors report?

The amended Schedule 13G reports that Arena Investors, LP and its affiliated funds have aggregate beneficial ownership of 0 shares of Rubico Inc. common stock, representing 0.0% of the class as disclosed in Item 4 and the cover pages.

Who are the reporting persons in the Rubico Inc. (RUBI) Schedule 13G/A?

Reporting persons include Arena Investors, LP, Arena Investors GP, LLC, several Arena Special Opportunities funds and their general partners, collectively referred to as the Arena Funds and related entities, all listing 0 shares and 0.0% beneficial ownership of Rubico common stock.

What ownership percentage in Rubico Inc. (RUBI) does Arena Investors disclose?

Arena Investors and each related reporting person disclose aggregate beneficial ownership of 0 shares of Rubico Inc. common stock, corresponding to 0.0% of the outstanding class, as stated in Item 4(b) and Item 11 of each cover page.

How much voting and dispositive power over Rubico Inc. (RUBI) shares is reported?

Each reporting person lists 0.00 shares for sole voting power, shared voting power, sole dispositive power, and shared dispositive power. This indicates no reported authority to vote or dispose of Rubico Inc. common stock as of the event date in the filing.

What certification does Arena Investors make about control of Rubico Inc. (RUBI)?

The signatory certifies that the securities referenced were not acquired and are not held to change or influence control of Rubico Inc., and are not held in connection with any transaction having that purpose or effect, other than activities tied to a specific nomination provision.

When was the Rubico Inc. (RUBI) ownership status triggering this Schedule 13G/A dated?

The date of the event requiring this statement is disclosed as 12/31/2025. The signatures by authorized signatory Tsering Lama are dated 02/13/2026 for each reporting person listed in the amended Schedule 13G.