Mergers & Acquisitions ·
Toro Corp. announced that the record date for the previously disclosed spin-off of its wholly-owned subsidiary AI OKTO…
TOROToro Corp.
Toro Corp. announced that the record date for the previously disclosed spin-off of its wholly-owned subsidiary AI OKTO CORP., which operates its LPG carrier business, has been set for October 1, 2026. The distribution of AI OKTO common shares is expected to occur on or about October 8, 2026. Under the terms of the transaction, Toro shareholders will receive one share of AI OKTO for every eight shares of Toro common stock held at the close of business on the record date. The completion of the spin-off remains subject to the effectiveness of AI OKTO's Form 20-F registration statement and Nasdaq listing approval. Toro Corp. is a global energy transportation services provider operating a fleet of oceangoing vessels.