Toro Corp. (NASDAQ: TORO), a company based in Limassol, Cyprus, and incorporated under the laws of the Republic of the Marshall Islands, has announced the record date for its spinoff of AI OKTO Corp. The record date for the distribution is set for October 1, 2026, with the distribution expected to occur on or about October 8, 2026.
Shareholders of Toro Corp. will receive one common share of AI OKTO Corp. for every eight Toro common shares held at the close of business on the record date. The distribution is subject to the effectiveness of AI OKTO's registration statement on Form 20-F with the Securities and Exchange Commission (SEC) and approval for listing on the Nasdaq Capital Market. Toro's common shares are expected to trade with due bills from the record date through the distribution date under procedures established by Nasdaq. Shareholders must hold their shares through the distribution date to receive AI OKTO shares. Buyers during the due bill period are entitled to the distribution, while sellers during this period are not.
Toro Corp. operates a fleet of four MR tanker vessels and two LPG carriers, transporting refined petroleum products and petrochemical gases worldwide.
