Rubico Inc. Announces Increase of Net Asset Value to $258.0 Million, a 41% Increase from the Previously Reported NAV
Rubico management estimates net asset value of $258.0 million as of September 30, 2026, a 41% increase from the NAV previously reported on July 16, 2026, based on charter-free vessel valuations from two third-party shipbrokers. This equates to $20.49 per common share, or $3.58 per share on a fully-diluted basis assuming conversion of warrants, Senior Convertible Notes issued October 19, 2026, and Series G Convertible Preferred Shares. However, management discloses that prevailing market time charter rates are significantly higher than the company's contracted rates, and adjusting NAV for this charter-rate differential would result in a highly significant reduction in vessel values and NAV.
Key figures
- Nav
- 258000000
- Vessel dwt
- 157000
- Mr tanker dwt
- 47499
- Nav per share
- 20.49
- Nav increase pct
- 41%
- Fleet average age years
- 5.5
- Megayacht length meters
- 60
- Nav per share fully diluted
- 3.58
- Discount to nav charter free
- 94.02%
- Discount to nav charter adjusted
- 92.24%
AI analysis
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