Rubico Inc. Public Offering of Units

Rubico Inc. has successfully closed a public offering of 5,263,160 units, each consisting of one common share and one and a half Class C warrants. The offering, priced at $0.95 per unit, raised approximately $5.0 million in gross proceeds. The company also issued placement agent warrants equivalent to 5.0% of the total units sold. The warrants are exercisable for common shares, with Class C warrants having an exercise price of $0.95 and pre-funded warrants at $0.01. These warrants are not intended to be listed on any securities exchange, limiting their liquidity. The company has also entered into equity line purchase agreements allowing for future sales of up to $50 million in common shares. Additional equity and convertible securities have been issued in connection with past agreements and acquisitions, including Series G Perpetual Convertible Preferred Shares convertible into common shares. The company acknowledges potential dilution and market price fluctuations due to these issuances and broader market conditions. Forward-looking statements regarding future performance are subject to various risks and uncertainties inherent in the shipping industry and general economic factors.