Robin Energy Ltd. (NASDAQ:RBNE) said Wednesday it has generated $13.9 million in gross proceeds through its at-the-market (ATM) share issuance program since the start of the first quarter of 2026.
The international shipping company sold shares at an average price of $4.31 each, representing a 138% premium to Wednesday’s closing price of $1.81. Despite that premium, the stock has been highly volatile, declining about 96% over the past year and falling 38% over the past week.
Robin Energy also confirmed that all pre-funded warrants tied to a registered direct offering announced on October 24, 2025, have now been exercised and are no longer outstanding.
The company added that the recent capital raise did not include the issuance of additional warrants and that it currently has no warrants outstanding. As of Wednesday, Robin Energy had 7,021,760 common shares issued and outstanding.
Robin Energy operates a small fleet consisting of two LPG carriers and one tanker used to transport petrochemical gases and refined petroleum products worldwide.
In other developments, the company recently announced plans to spin off its tanker business into a new subsidiary named AI OKTO CORP. The spin-off will include one tanker vessel and Xavier Shipping Co., with shareholders receiving one AI OKTO share for every 6.5 Robin Energy shares they hold.
The company also reported stronger tanker rates and extended charter agreements for its LPG vessels, noting that the M/T Wonder Mimosa achieved a gross daily rate of $30,115 in February 2026.
Additionally, Robin Energy carried out a one-for-five reverse stock split that took effect on December 23, 2025, reducing its outstanding shares from roughly 14.0 million to about 2.8 million.
Robin Energy’s board has also authorized a $1 million share repurchase program, allowing the company to buy back shares through open market purchases or privately negotiated transactions as part of its capital management strategy.