Robin Energy Ltd. announces a $3.6 million share offering to institutional investors for working capital and corporate purposes.
Quiver AI Summary
Robin Energy Ltd., an international ship-owning company, announced a securities purchase agreement to sell 1,020,000 common shares at $3.50 each, aiming to raise approximately $3.6 million before expenses. The offering, facilitated by Maxim Group LLC, is expected to close around June 25, 2025, pending standard closing conditions. The funds will be used for working capital and corporate purposes. This offering falls under a previously effective shelf registration with the SEC. The press release includes a caution regarding forward-looking statements and clarifies that it does not constitute an offer to sell or solicit securities. For more details, interested parties are directed to the SEC website or to contact Robin Energy directly.
Potential Positives
- The company has secured gross proceeds of approximately $3.6 million from the sale of 1,020,000 common shares, which will enhance its working capital.
- The offering is facilitated by a reputable placement agent, Maxim Group LLC, indicating a level of credibility and confidence in the transaction.
- The transaction is being conducted under an effective shelf registration statement, ensuring regulatory compliance and streamlined fundraising capabilities.
- The funds raised will support general corporate purposes, providing financial flexibility for the company's operations and potential growth opportunities.
Potential Negatives
- The press release indicates the company is raising capital through a direct offering, which may suggest financial difficulties or a need for liquidity.
- The offering price of $3.50 per share may signal a potentially low valuation or lack of investor confidence in the company’s prospects.
- Robin Energy currently owns only one tanker vessel, which could raise concerns about the company's operational scale and growth potential in the competitive energy transportation market.
FAQ
What is the purpose of Robin Energy's recent securities offering?
Robin Energy intends to use the net proceeds from the offering for working capital and general corporate purposes.
How many shares are being offered in the securities purchase agreement?
The offering includes 1,020,000 common shares at an offering price of $3.50 each.
Who is the placement agent for the offering?
Maxim Group LLC is acting as the sole placement agent for the offering.
When is the expected closing date for the offering?
The offering is expected to close on or about June 25, 2025, subject to customary closing conditions.
Where can investors find the prospectus for this offering?
Investors can obtain the prospectus supplement at the SEC's website or by contacting Maxim Group LLC directly.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
LIMASSOL, Cyprus, June 25, 2025 (GLOBE NEWSWIRE) -- Robin Energy Ltd. (NASDAQ:RBNE) ("Robin Energy" or the "Company"), an international ship-owning company providing energy transportation services globally, today announced that it has entered into a securities purchase agreement with several institutional investors to purchase 1,020,000 common shares at an offering price of $3.50, for gross proceeds of approximately $3.6 million (the “Offering”), before deducting commissions and offering expenses, in a registered direct offering.
Maxim Group LLC is acting as the sole placement agent for the Offering.
Robin Energy currently intends to use the net proceeds from the Offering for working capital and general corporate purposes. The Offering is expected to close on or about June 25, 2025 (the “Closing Date”), subject to the satisfaction of customary closing conditions.
The Offering is being made pursuant to an effective shelf registration statement on Form F-3, (File No. 333-286726) previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on April 28, 2025. A prospectus supplement relating to the securities to be issued in the Offering will be filed by the Company with the SEC. When available, copies of the prospectus supplement relating to the Offering, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at [email protected] or by telephone at (212) 895-3745.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Robin Energy Ltd.
Robin Energy is an international ship-owning company providing energy transportation services globally. Robin currently owns one Handysize tanker vessel that carries petroleum products worldwide.
For more information, please visit the Company’s website at www.robinenergy.com . Information on our website does not constitute a part of this press release.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts, including those related to the completion and timing of the offering and the intended use of the proceeds. We are including this cautionary statement in connection with this safe harbor legislation. The words “believe”, “anticipate”, “intend”, “estimate”, “forecast”, “project”, “plan”, “potential”, “will”, “may”, “should”, “expect”, “pending” and similar expressions identify forward-looking statements.
Forward-looking statements are subject to risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future and/or are beyond our control or precise estimate. Such risks, uncertainties and other factors include, but are not limited to, uncertainties related to the Company’s and its counterparty’s ability to consummate the transactions discussed herein, as well as those factors discussed under “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2024 and our other filings with the SEC, which can be obtained free of charge on the SEC’s website at http://www.sec.gov . Except to the extent required by applicable law, we disclaim any intention or obligation to update publicly or revise any forward‐looking statements, whether as a result of new information, future events or otherwise.
CONTACT DETAILS
For further information please contact:
Petros Panagiotidis
Robin Energy Ltd.
Email:
[email protected]
