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LIMASSOL, Cyprus - Toro Corp. (NASDAQ:TORO), currently trading at $2.25 and considered undervalued according to InvestingPro analysis, announced Thursday it is commencing a tender offer to purchase up to 4.5 million of its own shares at $2.75 per share, using available cash and cash equivalents. The company maintains a strong financial position with a current ratio of 11.77, indicating ample liquidity for the buyback program.
The tender offer will expire on August 7, 2025, at 5:00 P.M. Eastern Time, unless extended or withdrawn. According to the company’s press release statement, the board determined the repurchase is in Toro’s best interest given its current cash position and stock price. This aligns with the company’s shareholder-friendly approach, maintaining impressive gross profit margins of 51.64%.
The offer is not conditioned on any minimum number of shares being tendered. Toro has retained Broadridge Corporate Issuer Solutions LLC as the depositary and Georgeson LLC as the information agent for the tender offer.
Toro Corp. is a global energy transportation services provider with a fleet comprising four LPG carriers and one MR tanker acquisition agreement announced on June 11, 2025. The company recently agreed to sell one of its vessels, M/T Dream Syrax, on July 10.
Shareholders can obtain additional information about the tender offer from the information agent at the toll-free number (855) 733-5180 for U.S. callers or +1 478-207-6120 for international callers.
The company is distributing the Offer to Purchase and related materials to shareholders, which contain complete details and conditions of the tender offer. For investors seeking deeper insights into Toro’s valuation and 13 additional ProTips, InvestingPro offers comprehensive analysis of the company’s financial health and growth potential.
In other recent news, Toro Corp. announced its decision to sell its LPG carrier vessel, Dream Syrax, to a subsidiary of Robin Energy Ltd. for $18 million. This transaction involves a related party, as the purchasing entity is controlled by Toro’s own Chairman and CEO. Additionally, Toro Corp. has entered into an agreement to acquire a 2021-built MR tanker vessel for $36.25 million, with the purchase expected to finalize in the second or third quarter of 2025. This acquisition is part of Toro’s strategy to expand its fleet, which will soon include four LPG carriers and one MR tanker.
In a significant leadership change, Theologos Pagiaslis has been appointed as the new Chief Financial Officer, replacing Ioannis Lazaridis. Pagiaslis brings over 15 years of experience in financial sectors to the role. Toro Corp. also announced the full repayment of its senior term loan facility to Castor Maritime Inc., a move that aligns with its strategy to enhance financial flexibility. These developments reflect Toro’s ongoing efforts to strengthen its operational and financial standing in the energy transportation sector.
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