Robin Energy takes delivery of second vessel, doubling fleet size

LIMASSOL, Cyprus - Robin Energy Ltd (NASDAQ:RBNE), a micro-cap energy transportation company with a market capitalization of $11.81 million, announced Thursday it has taken delivery of the LPG Carrier Dream Syrax, a 2015-built vessel acquired in July following completion of its scheduled drydock and special survey.

The acquisition, funded entirely with cash on hand, doubles the company’s fleet size since its listing. The vessel is currently employed under a time-charter contract at a rate of $337,000 per calendar month with earliest redelivery expected in late December 2025.

"The delivery of the Dream Syrax enhances our earnings capacity and reinforces our ability to generate stable cash flows for shareholders," said Petros Panagiotidis, Chairman and Chief Executive Officer of Robin Energy, in a press release statement.

Robin Energy, which provides energy transportation services globally, now owns two vessels - one Handysize tanker and one LPG carrier - that transport petrochemical gases and refined petroleum products worldwide.

The company maintains a debt-free balance sheet and continues to target growth opportunities through selective acquisitions, according to the announcement.

In other recent news, Robin Energy Ltd. has announced several significant developments impacting its financial strategy and asset portfolio. The company has approved Bitcoin as a primary treasury reserve asset, allocating an initial $5 million from its cash reserves for this purpose. Additionally, Robin Energy plans to acquire a second vessel from Toro Corp. for $18 million, a transaction approved by independent board members following negotiations by special committees. On the financial front, Robin Energy has raised approximately $3.6 million through a registered direct offering, selling 1,020,000 common shares at $3.50 per share. This offering was facilitated by Maxim Group LLC as the sole placement agent. The company also announced another direct offering, pricing 763,000 shares at $5.25 per share, expected to raise about $4.0 million. These recent offerings were conducted at a discount to the market price, which is noteworthy for investors.

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