Rubico Inc. Announces Reverse Stock Split (Form 6-K)

Rubico Inc. Announces Reverse Stock Split

ATHENS, Greece, June 23, 2026 (GLOBE NEWSWIRE) -- Rubico Inc. (Nasdaq: RUBI) (the "Company" or "Rubico"), a global provider of shipping transportation services specializing in the ownership of vessels, announced today that its board of directors (the "Board") has determined to effect a 1 for 25 reverse stock split (the "Reverse Stock Split") of the Company's issued common shares, par value $0.01 (the "Common Shares"), effective at the opening of trading on June 26, 2026.

Reverse Stock Split
The Reverse Stock Split will be effective, and the Common Shares will begin trading on a split-adjusted basis on the Nasdaq Capital Market ("Nasdaq"), at the opening of trading on June 26, 2026, under the existing trading symbol "RUBI." The new CUSIP number for the Common Shares following the Reverse Stock Split will be Y1250N131.

When the Reverse Stock Split becomes effective, every 25 issued and outstanding Common Shares will be automatically converted into 1 issued and outstanding Common Share without any change in (i) the par value per share or (ii) the total number of Common Shares the Company is authorized to issue.

Details
The Reverse Stock Split will not (i) affect any shareholder's ownership percentage of Common Shares (except as a result of the cancellation of fractional shares), (ii) have any direct impact on the market capitalization of the Company, or (iii) modify any voting rights or other terms of the Common Shares. As of June 23, 2026, the Company had 15,126,008 outstanding Common Shares, which will be reduced to approximately 605,040 Common Shares, to be adjusted for cancellation of any fractional shares.

No fractional shares will be created or issued in connection with the Reverse Stock Split. Shareholders who otherwise would be entitled to receive fractional shares because their pre-split holdings of Common Shares are not evenly divisible by the number of pre-split shares for which each post-split share is to be exchanged will receive a cash payment in lieu thereof at a price equal to that fraction of a share to which the shareholder would otherwise be entitled, multiplied by the closing price of the Common Shares on Nasdaq on June 25, 2026.

Shareholders with shares held in book-entry form or through a bank, broker, or other nominee are not required to take any action and will see the impact of the Reverse Stock Split reflected in their accounts on or after June 26, 2026. Such beneficial holders may contact their bank, broker, or nominee for more information.

The purpose of the reverse stock split is to increase the market price of the Company's common stock. The Company believes that the Reverse Stock Split will increase the market price for its common stock and allow it to maintain compliance with Nasdaq's continued listing requirements.

About the Company

Rubico Inc. is a global provider of shipping transportation services specializing in the ownership of vessels. The Company is an international owner and operator of two modern, fuel efficient, eco 157,000 dwt Suezmax tankers and it also has two newbuilding contracts, one for a 47,499 dwt chemical/product oil carrier and one for a M/Y Sanlorenzo 1150Exp, a 60 meters megayacht.

The Company is incorporated under the laws of the Republic of the Marshall Islands and has executive offices in Athens, Greece. The Company's common shares trade on the Nasdaq Capital Market under the symbol "RUBI".
Please visit the Company's website at: https://rubicoinc.com/