Toro Corp. announced the commencement of a tender offer to purchase up to 4,500,000 of its common shares. The company is offering to repurchase these shares at a price of $2.75 per share.
The tender offer will be funded using cash and cash equivalents currently on hand. The offer is scheduled to expire at 5:00 P.M. Eastern Time on August 7, 2025, unless it is extended or withdrawn.
The Board of Directors determined that the tender offer is in the best interest of the company and its shareholders. This action reflects a commitment to optimizing the capital structure and enhancing shareholder value.
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