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LIMASSOL, Cyprus - Robin Energy Ltd. (NASDAQ:RBNE), whose stock has surged an impressive 392% over the past week according to InvestingPro data, announced Monday it has entered into a securities purchase agreement with institutional investors for approximately $5.1 million in gross proceeds through a registered direct offering.
The international ship-owning company, which provides energy transportation services globally and currently maintains a market capitalization of $33.41 million, will sell 965,000 common shares at $5.25 per share in an offering priced at-the-market under Nasdaq rules. Maxim Group LLC is serving as the sole placement agent.
Robin Energy intends to use the net proceeds for working capital and general corporate purposes, according to the company’s press release statement. The offering is expected to close on or about June 17, 2025, subject to customary closing conditions.
The offering is being conducted pursuant to an effective shelf registration statement on Form F-3 that was previously filed with and declared effective by the U.S. Securities and Exchange Commission on April 28, 2025.
Robin Energy currently owns one Handysize tanker vessel that transports petroleum products worldwide. The company’s shares are listed on the Nasdaq.
The transaction represents a capital raise equivalent to approximately 11.5% of the company’s previous closing market capitalization, based on the offering price.
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