Robin Energy Ltd. (NASDAQ:RBNE) announced it will begin a tender offer to buy back up to 1,000,000 shares of its common stock, along with associated preferred share purchase rights, at a price of $3.00 per share.
The offer represents a substantial premium compared with the company’s current share price of about $1.10, which is close to its 52-week low of $1.05.
According to a company press release, the tender offer is scheduled to expire at 5:00 p.m. Eastern Time on April 23, 2026, unless it is extended or withdrawn. The repurchase will be funded using the company’s existing cash and cash equivalents.
Robin Energy’s Board of Directors said it approved the buyback after evaluating the company’s cash position and current share price. The offer is not dependent on a minimum number of shares being tendered by shareholders.
The company has appointed Broadridge Corporate Issuer Solutions LLC to serve as the depositary for the tender offer, while Georgeson LLC will act as the information agent. Offer documents and related materials are being distributed to shareholders.
Robin Energy operates as an international ship-owning company focused on energy transportation. Its fleet currently includes two LPG carriers and one tanker vessel used to transport petrochemical gases and refined petroleum products around the world.
In other recent developments, Robin Energy raised $13.9 million through its at-the-market equity program during the first quarter of 2026, selling shares at an average price of $4.31 each — well above its recent trading levels.
The company also announced plans to spin off its tanker operations into a new subsidiary called AI OKTO CORP. Under the proposed plan, shareholders will receive one AI OKTO common share for every 6.5 Robin Energy shares they hold.
Separately, Robin Energy reported stronger tanker market conditions and extended charter agreements for its LPG vessels. One of its ships, the M/T Wonder Mimosa, recorded a gross daily charter rate of $30,115 in February 2026, representing a notable increase from previous periods. These developments reflect a series of strategic steps by the company as it adapts to current market conditions.