Toro Corp. (NASDAQ: TORO) Announces LPG Spin-Off with $45 Million Cash Injection
Kalkine Media
Toro Corp. (NASDAQ: TORO) plans to spin off its LPG carrier business into a new independent entity named AI OKTO, which will be publicly traded on the Nasdaq Capital Market. The spin-off includes transferring LPG carriers and a $45 million cash injection to AI OKTO. Toro shareholders will automatically receive AI OKTO shares without any cost or exchange, with Petros Panagiotidis serving as chairman and CEO of the new company.
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