S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
LIMASSOL - Robin Energy Ltd. (NASDAQ:RBNE), whose stock has declined nearly 38% in the past week according to InvestingPro data, has entered into a securities purchase agreement with institutional investors for a registered direct offering of 763,000 common shares at $5.25 per share, the company announced today. The offering price represents a significant discount to the current trading price of $8.73.
The offering will generate approximately $4 million in gross proceeds before deducting commissions and expenses, a significant capital raise for the company, which currently has a market capitalization of $20.84 million. Maxim Group LLC is serving as the sole placement agent for the transaction.
According to the company’s statement, Robin Energy intends to use the net proceeds for working capital and general corporate purposes. The offering is expected to close today, subject to customary closing conditions.
The offering is being conducted under an effective shelf registration statement on Form F-3 (File No. 333-286726) that was declared effective by the Securities and Exchange Commission on April 28, 2025. A prospectus supplement related to the securities will be filed with the SEC.
Robin Energy is an international ship-owning company that provides energy transportation services globally. The company currently owns one Handysize tanker vessel that transports petroleum products worldwide.
The announcement was made in a press release issued by the Cyprus-based company.
In other recent news, Robin Energy Ltd. has announced a series of registered direct offerings, raising significant capital. The company entered into a securities purchase agreement with institutional investors to sell 965,000 common shares at $5.25 per share, generating approximately $5.1 million in gross proceeds. Another offering involved 860,000 common shares at the same price per share, expected to yield around $4.5 million. These offerings are intended to fund working capital and general corporate purposes, with Maxim Group LLC acting as the sole placement agent. The transactions are conducted under an effective shelf registration statement filed with the SEC. Despite the capital infusion, the below-market pricing of these shares has raised investor concerns about potential dilution. The offerings are set to close in June 2025, pending customary closing conditions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.