Rubico Inc. closed an initial tranche of a registered direct offering on October 19, 2026, raising gross proceeds of $8.5 million by issuing $9,444,444 in aggregate principal amount of senior convertible notes and warrants to purchase common shares. The notes bear interest at 8% if paid in cash or 10% if paid in stock, mature in 12 months (extendable to 18), and convert at a fixed price of $0.3646 per share. Warrants are immediately exercisable for five years at the same exercise price. The company may issue an additional $5,555,556 in notes subject to certain conditions. Rubico Inc. is a global provider of shipping transportation services specializing in the ownership and operation of vessels.
