Rubico prices $7.5 million public offering at $0.609 per unit

Rubico Inc. (NASDAQ: RUBI) announced the pricing of its underwritten public offering of 12,315,270 units at $0.609 per unit. Each unit consists of one common share and one Class A warrant to purchase one common share.

The warrants expire one year from issuance and are immediately exercisable at an initial exercise price of $0.609 per share. The exercise price will adjust to 70% on the fourth trading day and 50% on the eighth trading day following the offering's closing, with the number of underlying common shares proportionally increased. Warrant holders may also exercise through a zero cash option, exchanging each warrant for twice the number of shares available through cash exercise.

Prior to the offering's closing, Rubico expects to have 5,297,366 common shares outstanding. Gross proceeds before underwriting discounts and other expenses are expected to reach approximately $7.5 million. The offering is scheduled to close on or about November 6, 2025, subject to customary closing conditions.

Maxim Group LLC serves as sole book-running manager for the offering. The company granted underwriters a 45-day option to purchase up to an additional 1,847,290 common shares and/or warrants at the public offering price less underwriting discounts.

A registration statement on Form F-1 became effective with the Securities and Exchange Commission on November 4, 2025. The Athens, Greece-based company operates as a global shipping transportation services provider, owning two 157,000 deadweight ton Suezmax tankers.

The information is based on a company press release statement.

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