Rubico Inc. (RUBI) Form 6-K — Oct 21, 2026
Rubico Inc. (Nasdaq: RUBI) announced that its estimated net asset value as of September 30, 2026 is $258.0 million, a 41% increase from the previously reported NAV, translating to $20.49 per share on a basic basis and $3.58 per share fully diluted. The company notes its shares closed at more than a 94.02% discount to its fully-diluted NAV estimate (92.24% to its charter-adjusted NAV), implying a massive gap between market price and asset value. Management cautions that adjusting vessel values for the gap between contracted charter rates and prevailing market rates would significantly reduce NAV.
Key figures
- Nav per share
- $20.49
- Net asset value
- $258.0 million
- Newbuilding dwt
- 47499
- Nav increase pct
- 41%
- Fleet average age years
- 5.5
- Notes converted to date
- $0.4 million
- Atm sales since inception
- $3.1 million
- Nav per share fully diluted
- $3.58
- Discount to fully diluted nav
- 94.02%
- Discount to charter adjusted nav
- 92.24%
- Shares issued at financing close
- 1295179
- Shares outstanding after financing
- 12587957
AI analysis
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