Toro Corp. announced the final results of its tender offer, which expired on August 7, 2025. The company reported that 20,344 common shares were properly tendered and not properly withdrawn.
The company expects to accept all tendered shares for purchase at a price of $2.75 per share, resulting in an aggregate cost of approximately $55,946.00. This amount is significantly less than the up to 4,500,000 shares the company initially sought to repurchase.
The low participation rate in the tender offer suggests that a majority of shareholders did not elect to sell their shares at the offered price. This outcome provides insight into shareholder sentiment regarding the company's valuation.
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