Rubico terminates $30M equity line after selling $27.1M in shares

Rubico Inc. (Nasdaq: RUBI), a shipping company based in Athens, Greece, has terminated a common stock purchase agreement it had with B. Riley Principal Capital II, LLC, according to a press release.

The agreement, originally entered into on July 21, 2025, gave Rubico the right to sell up to $30 million of its common shares over time. Prior to the termination, the company sold approximately $27.1 million worth of common shares under the agreement.

Rubico owns and operates two Suezmax tankers of 157,000 deadweight tonnage, as well as two 47,499 deadweight tonnage MR tanker newbuildings scheduled for delivery in the third and fourth quarters of 2029. The company also holds a 60-meter newbuilding megayacht expected to be delivered in the second quarter of 2027, which it intends to divest.

The company is incorporated under the laws of the Republic of the Marshall Islands and trades on the Nasdaq Capital Market under the symbol "RUBI."

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