Toro Corp. announced that on October 13, 2025, it reached an agreement with Castor Maritime Inc. for the full redemption of 60,000 shares of Castor's 8.75% Series E Cumulative Perpetual Convertible Preferred Shares.
These Series E Preferred Shares were issued by Castor in September 2025. The redemption will be for a cash consideration equal to the stated amount of the shares.
This agreement represents a capital management action between the two entities, with Castor Maritime Inc. being a related party. The redemption will impact Toro's investment portfolio and cash position.
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