Business UpdateJul 16, 2026, 04:22 PM
Rubico Estimates NAV at $183.1M, Up 94%; $300.26 Per Share
AI Summary
Rubico Inc. announced its management's estimate of Net Asset Value (NAV) as of June 30, 2026, to be $183.1 million, marking a 94% increase from the prior reported NAV. This translates to $300.26 per common share and $72.22 per fully diluted common share. The company highlighted its modern fleet with an average age of 5.2 years and its newbuilding pipeline, including two MR tankers and a megayacht, with one tanker acquisition expected to close by September 30, 2026.
Key Highlights
- Management estimates Net Asset Value (NAV) at $183.1 million as of June 30, 2026.
- This represents a 94% increase from the previously reported NAV on March 2, 2026.
- NAV translates to $300.26 per common share and $72.22 per fully diluted common share.
- The company's fleet has an average age of approximately 5.2 years.
- Newbuilding pipeline includes two MR tankers (delivery Q3/Q4 2029) and a megayacht (delivery Q2 2027).
- A share purchase agreement for one MR tanker is expected to close by September 30, 2026.
Price Impact
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