Toro Corp. plans to spin off Handysize tanker business into new subsidiary, Robin Energy Ltd.

From GlobeNewswire: 2025-02-28 17:00:00

Toro Corp. announces plans to spin-off its Handysize tanker business, creating a new subsidiary, Robin Energy Ltd. Toro shareholders will receive one Robin common share for every eight Toro common shares. The move aims to enhance operational efficiencies and strategic expansion for both companies. The Spin-Off is subject to a registration statement being declared effective and approval for listing on the Nasdaq Capital Market. Fractional shares will be sold in the open market. Toro Corp. is an international energy transportation services company with a fleet of tankers and LPG carriers. Petros Panagiotidis will lead Robin as Chairman and CEO.



Read more at GlobeNewswire: Toro Corp. Announces Proposed Spin-Off of its Handysize