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Toro Corp., Castor Maritime extend earliest conversion dates on cross-held perpetual preferred shares to January and March 2028
TOROToro Corp.
On October 8, 2026, Toro Corp. and Castor Maritime Inc. agreed to amend the terms of their respective cross-held perpetual convertible preferred shares to extend the earliest conversion date by one year. The amendment pushes the earliest conversion for Castor’s Series D Preferred Shares held by a Toro subsidiary to January 1, 2028, and for Toro’s Series A Preferred Shares held by a Castor subsidiary to March 7, 2028. Both amendments were approved by independent special committees of disinterested directors. Toro Corp. operates in the manufacturing sector.