ATHENS - rubico" class="internal-tag-link">Rubico Inc. (NASDAQ:RUBI) announced the pricing of a public offering of 5,263,160 units at $0.95 per unit.
Each unit consists of one share of common stock, or pre-funded warrants, and 1.5 Class C Warrants. The Class C Warrants are exercisable at $0.95 per share and expire in five years.
The company expects gross proceeds of approximately $5.0 million before fees. The offering is expected to close on Thursday, subject to customary conditions.
RUBI shares trade at $0.87, near their 52-week low of $1.35. According to Bond.az data, the company has a market cap of $1.05 million and revenue of $23.5 million over the last twelve months.
Maxim Group LLC is serving as sole placement agent.
Rubico is a shipping transportation services provider that operates two Suezmax tankers.
