TOP Ships Spin-Off Rubico Approved For Nasdaq Listing; Share Distribution Expected In July Under Ticker "RUBI"

Benzinga·06/26/2025 20:32:17

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TOP Ships Inc. (the "Company" or "TOP Ships") (NYSE:TOPS), an international owner and operator of modern, fuel-efficient "ECO" tanker vessels, announced today that the application of Rubico Inc. ("Rubico"), to list its common shares on the Nasdaq Capital Market has been approved. In addition, the registration statement on Form 20-F filed by Rubico in connection with its spin-off from Top Ships Inc has been declared effective by the U.S. Securities and Exchange Commission (the "SEC").

The distribution of Rubico common shares to securityholders of TOP Ships is expected to be made within July 2025. TOP Ships will announce the distribution date via a future press release.

Rubico common shares are expected to commence trading on a standalone basis on the Nasdaq Capital Market on the first trading day after the date of distribution, under the ticker "RUBI".

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