Toro Corp.
- Market Cap (Float-Adj) (Float-adjusted market cap computed by the low-float screener — matches the screener row. May differ from the standard cap (price × all shares outstanding) reported elsewhere.)
- $180.1M
- Price
- $5.21
- % Change (Daily % change from the live per-ticker quote feed.)
- +2.76%
- Volume
- 63.6K
About
Toro Corp. is a maritime shipping company specializing in acquiring, owning, operating, and chartering oil tanker vessels. These vessels transport crude oil and refined petroleum products across the globe. Its operations are structured around two main segments: Aframax/LR2 tankers and Handysize tankers. The firm boasts a fleet of eight tankers, collectively capable of carrying 0.7 million deadweight tons (dwt) of cargo. Established in 2022, Toro Corp. maintains its corporate headquarters in Limassol, Cyprus.
Quick stats
Shares outstanding34.6M
Computed float—
Float / sharesUnknown
Key info
SectorIndustrials
IndustryMarine Shipping
CIK (Central Index Key — the unique ID the SEC assigns to every filer. Use it to look up the company's filings on EDGAR.)0001941131
Websitehttps://www.torocorp.com
AI Summary
AI-generated1/34
standardneutralrestructuring
Toro Corp. Announces Record Date for the Proposed Spin-off of its LPG Carrier Business
Toro Corp. set October 1, 2026 as the record date for the previously announced spin-off of its wholly owned subsidiary AI OKTO CORP., with distribution of AI OKTO common shares expected on or about October 8, 2026.
Shareholders will receive one AI OKTO common share for every eight Toro common shares held at the close of business on the record date, and the spin-off remains subject to the Form 20-F registration statement being declared effective and to Nasdaq listing approval.
Nasdaq due-bill procedures mean buyers of TORO shares during the due-bill period are entitled to the spin-off distribution while sellers are not, so holders must keep their shares through the distribution date to receive AI OKTO shares.
After the separation, Toro will operate four MR tanker vessels while its two LPG carriers exit the fleet, and the company cautioned there is no assurance the distribution or spin-off will occur on the stated terms or timing.
Red flags
- Spin-off completion not assured -- subject to Form 20-F registration statement being declared effective and Nasdaq listing approval for AI OKTO
- Due-bill mechanics: sellers of TORO shares during the due-bill period forfeit the AI OKTO distribution even if trades settle afterward
- Post-spin Toro is reduced to four MR tankers as both LPG carriers leave the fleet, concentrating the business in product tanker exposure