Street Calls of the Week
LIMASSOL, Cyprus - Robin Energy Ltd. (NASDAQ:RBNE), an international ship-owning company providing energy transportation services, announced Wednesday it has commenced a public offering of shares of its common stock, or pre-funded warrants in lieu thereof. The announcement comes as the company’s stock, currently trading at $2.30, has experienced significant volatility and a 77.65% decline over the past six months, according to InvestingPro data.
Maxim Group LLC is acting as the sole book-running manager for the offering, according to the company’s press release statement. The number of shares and price of the offering have not been disclosed.
Robin Energy indicated it intends to use the net proceeds from the offering for working capital and general corporate purposes.
The offering is being conducted pursuant to an effective shelf registration statement on Form F-3 filed with the U.S. Securities and Exchange Commission on April 24, 2025, which was declared effective on April 28, 2025.
The company noted that the offering is subject to market and other conditions, with no assurance as to whether or when it may be completed, or its actual size or terms.
Robin Energy currently owns one Handysize tanker vessel and one LPG carrier that transport petrochemical gases and refined petroleum products worldwide.
A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website, the company stated.
In other recent news, Robin Energy Ltd. has completed its initial $5 million Bitcoin allocation through Anchorage Digital Bank N.A. This allocation is part of the company’s newly adopted treasury framework, which may see adjustments based on market conditions. Furthermore, Robin Energy has taken delivery of the LPG Carrier Dream Syrax, a 2015-built vessel, effectively doubling its fleet size since listing. The vessel acquisition was fully funded with cash on hand and is currently under a time-charter contract with expected redelivery in late December 2025.
Additionally, Robin Energy announced its intention to acquire another 2015-built LPG Carrier vessel from Toro Corp. for $18 million. This transaction was approved by independent board members from both companies following negotiations by special committees. These developments underscore Robin Energy’s strategic moves in both cryptocurrency investments and fleet expansion.
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