IPO Journey
Rubico Inc.
IPO Date: May 21, 2026 · 15 filings tracked
Final Offer Terms
Ticker
RUBI
Exchange
Nasdaq Capital Market
Offer Price
$0.95
Shares Offered
5,263,160
Estimated Proceeds
$5.0M
Underwriters
Led by Maxim Group LLC
Filing Timeline
1
F-1
July 21, 2025
- Owns a modern fleet of two four-year-old crude oil tankers, the M/T Eco Malibu and M/T Eco West Coast.
- Established a flexible capital-raising agreement of up to $30 million with investment firm B. Riley.
2
F-1
August 13, 2025
- Spun off from Greek shipping giant Top Ships Inc. with two modern, revenue-generating oil tankers.
- Generated $24 million in steady revenue in 2024 through a charter contract with Clearlake Shipping.
Changes from previous filing
- ▸ Shares offered: 75,000
3
F-1/A
August 20, 2025
- Owns a modern, fuel-efficient fleet consisting of two four-year-old Suezmax crude oil tankers.
- Operates as an independent, pure-play shipping business following its June 2025 spin-off from Top Ships Inc.
Changes from previous filing
- ▸ Shares offered: 15,000,000
- ▸ Underwriters: B. Riley Principal Capital II, LLC, Seaport Global Securities LLC
4
F-1/A
August 22, 2025
- Strategic spin-off from Top Ships Inc. with an established operational foundation in Athens, Greece.
- Young fleet consisting of two modern, four-year-old crude oil tankers: the Eco Malibu and the Eco West Coast.
Changes from previous filing
- ▸ Shares offered: 75,000
5
F-1
September 22, 2025
- Owns physical, high-value assets consisting of two global ocean crude oil tankers
- Secured long-term leases for both tankers, providing steady and predictable near-term cash flow
Changes from previous filing
- ▸ Shares offered: 3,036,437
- ▸ Underwriters: Maxim Group LLC
6
F-1/A
October 8, 2025
- Operates modern, fuel-efficient tanker ships equipped with exhaust cleaners to reduce sulfur emissions.
- Secured charter relationships with global energy giants including Shell, BP, ExxonMobil, and Petrobras.
7
F-1/A
October 15, 2025
- Capitalizes on the massive, ongoing demand for digital transformation, AI integration, and cloud migration.
- Acts as an outsourced engineering powerhouse for traditional businesses lacking in-house tech teams.
Changes from previous filing
- ▸ Shares offered: 3,846,153
8
F-1/A
October 16, 2025
- Owns two modern, fuel-efficient tankers (M/T Eco Malibu and M/T Eco West Coast) carrying petroleum and chemicals.
- Secured long-term rental deals in August 2025 that provide steady, predictable income.
Changes from previous filing
- ▸ Ticker symbol removed
9
424B4
Material Update
November 6, 2025
- Operates a modern fleet of two Suezmax-class crude oil tankers capable of navigating key global shipping routes like the Suez Canal.
- Generates steady revenue by chartering vessels to major global oil companies under long-term contracts.
Changes from previous filing
- ▸ Ticker symbol: RUBI
- ▸ Exchange: Nasdaq Capital Market
- ▸ Final offer price: $0.609 per share
- ▸ Shares offered: 12,315,270
- ▸ Estimated proceeds: $7M
- ▸ Underwriters: Maxim Group LLC
10
F-1
December 11, 2025
- Predictable and steady revenue stream of approximately $21.9 million annually
- Locked-in four-year rental contract with Clearlake Shipping secured in November 2025
Changes from previous filing
- ▸ Shares offered: 2,570,093
11
F-1/A
December 31, 2025
- Highly predictable revenue of approximately $21.9 million annually locked in through late 2029.
- Long-term charter contract with Clearlake Shipping guarantees a fixed rate of $29,990 per day per vessel.
Changes from previous filing
- ▸ Shares offered: 4,700,854
12
424B4
Material Update
January 12, 2026
- Owns two modern, four-year-old commercial oil tankers with stable operations
- Secured long-term charter contracts through late 2029, guaranteeing steady revenue
Changes from previous filing
- ▸ Exchange: Nasdaq
- ▸ Final offer price: $0.6 per share
- ▸ Shares offered: 6,666,666
- ▸ Estimated proceeds: $3M
13
F-1
April 21, 2026
- Owns two modern, fuel-efficient crude oil tankers with active rental operations.
- Expanding fleet with a new chemical tanker and a luxury megayacht currently under construction.
Changes from previous filing
- ▸ Exchange: Nasdaq Capital Market
- ▸ Shares offered: 50,000,000
- ▸ Underwriters: Seaport Global Securities LLC
14
F-1
May 8, 2026
- Operates fuel-efficient oil tankers with established charter contracts with global energy giants like Shell and BP.
- Expanding its maritime footprint with the active construction of a new chemical tanker and a luxury megayacht.
Changes from previous filing
- ▸ Final offer price: $2.99 per share
- ▸ Shares offered: 3,344,481
- ▸ Estimated proceeds: $9M
- ▸ Underwriters: Maxim Group LLC
424B4
Final Pricing
May 21, 2026
- Operates two giant crude oil tankers with contracts to build a third cargo ship and a 60-meter luxury yacht.
- Spun off from Top Ships Inc. in August 2025, establishing an independent maritime presence.
Changes from previous filing
- ▸ Final offer price: $0.95 per share
- ▸ Shares offered: 5,263,160
- ▸ Estimated proceeds: $5M
Disclaimer: AI-generated analysis for informational purposes only. Not financial advice. Always conduct your own research.