Toro Corp. filings document a foreign issuer engaged in seaborne energy transportation through tanker and LPG carrier vessels. Its Form 20-F annual report covers financial statements, while Form 6-K reports furnish operating results, vessel revenues, fleet ownership days, voyage expenses, management fees and other current disclosures incorporated into registration statements.
The filing record also documents common-share distributions with cash or stock election mechanics, shareholder notices and dividend election forms, vessel-secured revolving credit facilities, at-the-market offering arrangements under Form F-3 registration statements, and S-8 registration references. Governance-related disclosures include special committee review of related-party transactions involving Castor Maritime securities and capital-structure matters tied to common shares.
Toro Corp. (TORO) set a record date of October 1, 2026 for the previously announced spin-off of its wholly owned LPG carrier subsidiary, whose common shares will be distributed to Toro shareholders. Toro expects to complete the distribution of the subsidiary’s shares on or about October 8, 2026, subject to conditions.
In the spin-off, Toro shareholders will receive one common share of the subsidiary for every eight Toro common shares held at the close of business on the record date. Completion of the distribution and spin-off is conditioned on the subsidiary’s Form 20-F registration statement being declared effective and approval of the listing of its common shares on the Nasdaq Capital Market, and Toro notes there can be no assurance the transaction will occur or on what terms or timing.
Because Nasdaq is expected to apply “due bill” procedures, Toro common shares are expected to trade with due bills from the record date through the distribution date. Holders of Toro shares as of the record date must hold through the distribution date to receive the spin-off shares, while purchasers during this due-bill period will be entitled to the distribution and sellers will forgo it.
Toro Corp. (TORO) reported that it has acquired and taken delivery of two MR tanker vessels from unaffiliated sellers, funded entirely with cash on hand. The company bought the M/T Wonder Alasia, a 2018 Japanese-built MR tanker, for $45.9 million, delivered on September 17, 2026, and a 2014 Korean-built scrubber-fitted MR tanker for $37.5 million, delivered on September 18, 2026 and expected to be renamed M/T Wonder Atria. Toro states that its fleet now comprises four MR tanker vessels and two LPG carriers transporting refined petroleum products and petrochemical gases worldwide.
TORO CORP. (TORO) submitted a report as a foreign private issuer describing that its 2026 Annual General Meeting of Shareholders was duly held on September 11, 2026 in Limassol, Cyprus, where the listed proposals were approved and adopted. The disclosure is incorporated by reference into existing Form F-3 and Form S-8 registration statements.
Toro Corp. describes itself as a global energy transportation services provider operating a modern fleet of oceangoing vessels, including two MR tanker vessels and two LPG carriers that transport refined petroleum products and petrochemical gases worldwide.
Toro Corp. (TORO) plans to spin off its LPG carrier business into a new, independent company, AI OKTO CORP., which is expected to list on the Nasdaq Capital Market. AI OKTO’s initial assets will consist of two LPG carriers (LPG Dream Arrax and LPG Dream Vermax) and $45 million in cash contributed by Toro.
Toro describes AI OKTO as a pure-play LPG company whose strategy includes building an AI‑enabled operating model through partnerships with technology and data providers. Toro shareholders are expected to receive AI OKTO shares in the distribution without paying consideration or exchanging Toro shares; fractional AI OKTO shares will be aggregated and sold, with net cash proceeds distributed pro rata to affected holders.
Petros Panagiotidis, Toro’s Chairman and CEO, will also serve as Chairman and CEO of AI OKTO. The spin-off is subject to the effectiveness of AI OKTO’s Form 20‑F registration statement and approval of its Nasdaq listing, and Toro states there can be no assurance regarding whether the spin-off will occur, or its timing or final terms.
Toro Corp. has scheduled its 2026 Annual General Meeting of Shareholders for September 11, 2026 at 5:00 p.m. local time, at 223 Christodoulou Chatzipavlou Street, Hawaii Royal Gardens, 3036 Limassol, Cyprus. The Board set July 17, 2026 as the record date for determining shareholders entitled to receive notice and vote.
As of the record date, Toro had 34,559,330 Common Shares and 40,000 Series B Preferred Shares outstanding. Each Common Share carries 1 vote, and each Series B Preferred Share carries 100,000 votes, with both series voting together as a single class. Shareholders will vote on electing founder and CEO Petros Panagiotidis as Class C director to serve until the 2029 annual meeting, and on ratifying Deloitte Certified Public Accountants S.A. as independent auditors for the fiscal year ending December 31, 2026. A plurality of votes cast is required for the director election, and a majority of votes cast is required for auditor ratification. Any signed proxy returned without instructions will be voted in favor of all proposals.
Toro Corp. shareholder Pani Corp., controlled by Petros Panagiotis Panagiotidis, reports beneficial ownership of 25,649,485 common shares, representing 74.2% of the company’s outstanding shares. This reflects common shares acquired through private placements, open-market purchases, restricted stock grants and prior special dividends.
The filing highlights a one-time Special Dividend of $0.90 per share, where Pani Corp. elected to receive stock and was issued 4,827,279 shares on June 5, 2026, based on a 20‑day volume‑weighted average price of $3.8821. Total shares outstanding used for this ownership calculation were 34,559,330.
Toro Corp. director and Chief Executive Officer Panagiotidis Petros Panagiotis, through Pani Corp., received 4,827,279 shares of Common Stock as a payment-in-kind dividend. This dividend was paid on 20,822,206 shares of Common Stock held on the dividend record date.
After this non-market transaction, indirect holdings through Pani Corp. total 25,649,485 Common Stock shares. The price of 3.8821 per share represents the amount foregone in exchange for each share received as a dividend. The CEO disclaims beneficial ownership beyond any pecuniary interest.
Toro Corp. reported that it has paid its previously declared special dividend of $0.90 per common share, offering shareholders a choice of cash or stock. Based on elections, the company distributed approximately $3.8 million in cash and 5,707,246 common shares.
The stock portion was calculated using a 20-day volume weighted average price of $3.8821 per share through April 21, 2026. The dividend was paid on June 5, 2026 to shareholders of record as of May 4, 2026.
Toro Corp reported net income from continuing operations of $529,409 for the three months ended March 31, 2026, down from $1,482,736 a year earlier, and a net loss attributable to common shareholders of $633,718 versus prior net income of $463,967.
Total vessel revenues from continuing operations rose to $5,963,021 from $5,538,912, and EBITDA increased to $1,315,311 from $955,627, helped by a higher Daily TCE Rate of $15,531 and 100% fleet utilization, despite fewer ownership days.
Cash and cash equivalents were $81.6M at March 31, 2026, down from $87.4M, mainly after a $9.3M special dividend paid on January 16, 2026. The company also entered into a new revolving credit facility of up to $60.0M, drawing $15.0M, and declared an additional special dividend of $0.90 per common share payable June 5, 2026.
Toro Corp. is moving forward with a previously declared special dividend of $0.90 per common share for shareholders of record as of May 4, 2026. The dividend is expected to be paid on June 5, 2026.
Shareholders can choose to receive the dividend entirely in cash or entirely in Toro common shares, with any fractional share paid in cash. For those electing shares, the company has set a share value of $3.8821, based on the 20-day volume weighted average price through April 21, 2026. Registered shareholders must submit an election form to Broadridge by 5:00 p.m. Eastern time on May 22, 2026, otherwise the dividend will be paid in cash.
Toro retains the right, in its sole discretion, to pay the dividend entirely in cash at any time up to midnight on June 4, 2026, even if shareholders elected stock, and without prior notice. The filing also outlines U.S. federal income tax considerations for U.S. and non-U.S. shareholders.