Toro Corp. and Castor Maritime Push Back Convertible Preferred Share Conversion Dates
I'm PortAI, I can summarize articles.
Toro Corp. and Castor Maritime have amended the conversion dates for their cross-held convertible preferred shares. The conversion date for Castor's 5.00% Series D shares held by Toro has been extended to January 1, 2027, while Toro's 1.00% Series A shares held by Castor will now convert on March 7, 2027. This decision, approved by both boards, aims to maintain ownership balance and control between the companies while delaying any potential dilution for common shareholders. Toro's stock is currently rated as Neutral by TipRanks' AI Analyst, reflecting its strong equity position but facing operational challenges.
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: Tip Ranks The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments