Rubico Inc. (RUBI) Form 424B5 — Oct 19, 2026
Rubico Inc. priced a $15 million senior convertible notes offering to an institutional investor via a 424B5 prospectus supplement, split into an $8.5 million first tranche closing on or about October 19, 2026 and a $5 million second tranche at the company's discretion. The notes carry 10% original issue discount, 8% cash / 10% in-kind interest, and 12-month maturity with a 1.05x cash payoff (1.18x on default).
Key figures
- Debt Amount
- 15000000
- Interest Rate
- 8.0% cash / 10.0% in shares
- Maturity Date
- 12 months from issuance, extendable 6 months with 5% principal increase
- Gross Proceeds
- 13500000
- Offering Price
- 13500000
- Shares Offered
- up to 94,444,445 shares at the $0.10 floor price upon full conversion
- Floor price
- 0.1
- Placement agent fee
- 6.0%
- Net proceeds estimate
- 12400000
- Fixed conversion price
- 0.3646
- Total debt june30 2026
- 85767000
- Warrant exercise price
- 0.3646
- Original issue discount
- 10.0%
- Alternate conversion price
- 85% of lowest 10-day VWAP
- Default maturity multiplier
- 1.18
- First tranche gross proceeds
- 8500000
- Second tranche gross proceeds
- 5000000
- Total capitalization june30 2026
- 141123000
AI analysis
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