Toro Corp. announced that the record date for the previously disclosed spin-off of its wholly owned subsidiary, Robin Energy Ltd., has been set for April 7, 2025. The company anticipates completing the distribution of Robin common shares on or about April 14, 2025.
Shareholders of Toro will receive one common share of Robin Energy Ltd. for every eight Toro common shares held at the close of business on the Record Date. This distribution is part of Toro's strategy to create a distinct entity focused on Handysize Product Tankers.
The proposed distribution and spin-off are still contingent upon the registration statement on Form 20-F being declared effective and the approval of Robin's common shares for listing on the Nasdaq Capital Market.
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