Street Calls of the Week
LIMASSOL, Cyprus - Robin Energy Ltd. (NASDAQ:RBNE), currently valued at $8.15 million in market capitalization, announced Monday it has closed its previously announced underwritten public offering, raising approximately $8.6 million in gross proceeds. According to InvestingPro data, the company’s stock has experienced significant volatility, with the shares down 84% over the past six months.
The international shipping company, which provides energy transportation services globally, sold 5,769,230 shares of common stock at $1.30 per share. The underwriter partially exercised its overallotment option, purchasing an additional 864,770 shares at the same price. With average daily trading volume of 3.22 million shares, InvestingPro analysis reveals 12 additional key insights about RBNE’s performance and valuation metrics.
Maxim Group LLC served as the sole book-running manager for the offering. Robin Energy stated it intends to use the net proceeds for working capital and general corporate purposes.
The offering was 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, and declared effective on April 28, 2025.
Robin Energy currently owns one Handysize tanker vessel and one LPG carrier that transport petrochemical gases and refined petroleum products worldwide.
The announcement was made in a press release statement issued by the company.
In other recent news, Robin Energy Ltd. announced it has commenced a public offering of its common stock, with Maxim Group LLC acting as the sole book-running manager. The company has not disclosed the number of shares or the price of the offering. Additionally, Robin Energy has completed its initial $5 million Bitcoin allocation through Anchorage Digital Bank N.A., as part of its newly adopted treasury framework. This allocation is intended to serve as a primary treasury reserve asset, and the company may adjust its Bitcoin holdings based on market conditions. Furthermore, Robin Energy has doubled its fleet size with the acquisition of the LPG Carrier Dream Syrax, which is currently under a time-charter contract until late December 2025. The acquisition was funded entirely with cash on hand. These developments reflect Robin Energy’s strategic moves in both financial and operational domains.
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