Rubico Inc. Announces 1-for-10 Reverse Stock Split

Rubico Inc. announced a 1-for-10 reverse stock split of its issued common shares, effective April 9, 2026. This action will reduce the number of outstanding common shares from approximately 7,573,572 to 757,356. The reverse stock split does not alter the par value per share or the total number of authorized shares. The stated capital will be reduced from approximately $75,735.72 to $7,573.56, with the reduction allocated to surplus. Fractional shares will be settled in cash. The primary purpose of this reverse stock split is to increase the market price of the Company's common stock to maintain compliance with Nasdaq's continued listing requirements. The company, a global provider of shipping transportation services, operates two Suezmax tankers and is incorporated in the Republic of the Marshall Islands with executive offices in Athens, Greece. Its common shares trade on the Nasdaq Capital Market under the symbol "RUBI".