Rubico Inc. (NASDAQ:RUBI), a global shipping transportation company focused on vessel ownership, announced that management has calculated an estimated net asset value (NAV) of $94.2 million as of December 31, 2025. The estimate incorporates updated charter-free vessel valuations provided by an independent international broker, along with the company’s outstanding debt and cash position.
Based on the current number of shares outstanding, the estimated NAV equates to $22.88 per common share. On a fully diluted basis — assuming the exercise of all 2,128,854 outstanding warrants and prefunded warrants — NAV is estimated at $15.08 per share.
The company’s Chief Executive Officer commented: “As per the latest market close, we are trading at a 94.4% discount to the Company’s current estimate of the fully-diluted NAV of the Company. The company’s fleet has an average age of about five years, consisting of state-of-the-art vessels equipped with the latest eco-friendly and fuel-efficient specifications and features. Our time charters with high quality customers have been generating positive cashflow and income and we expect that they will continue the same way until their fixed period expires in Q1 2031.”
About the Company
Rubico Inc. is an international provider of maritime transportation services specializing in vessel ownership and operation. The company owns and operates two modern, fuel-efficient eco-design Suezmax tankers with a capacity of 157,000 deadweight tons each.
Rubico is incorporated in the Republic of the Marshall Islands and maintains executive offices in Athens, Greece. Its common shares are listed on the Nasdaq Capital Market.