- The company’s board approved the move, citing its strong cash position and current stock price as key reasons.
- The offer is set to expire on April 23, 2026, Robin Energy said.
- Earlier this month, the firm’s board approved a spin-off of part of its tanker business into a new entity called AI OKTO.
Shares of Robin Energy (RBNE) gained 14% on Thursday, extending their rally into the third consecutive session following a 110% surge over the past two days, after the company approved a $3 million share buyback program.
Prior to the gains since Tuesday, RBNE shares were down more than 70% in March.
$3 Million Buyback Offer
Robin Energy announced a tender offer to repurchase up to one million shares of its common stock at $3 per share, using cash on hand, according to a filing with the SEC on Tuesday. The offer is set to expire on April 23, 2026, unless extended or withdrawn, the company added.
The company’s board approved the move, citing its strong cash position and current stock price as key reasons. The offer is not contingent on any minimum number of shares being tendered or external financing.
How Did Retail Traders React?
Retail sentiment on Stocktwits remained in the ‘extremely bullish’ zone over the past 24 hours, amid ‘extremely high’ message volumes.
One user said if the board was willing to buy back at $3 per share, the stock should be worth “a lot more.”
Another user expects a “crazy upside” if the stock climbs above $3. It is currently trading at around $2.5.
Tanker Business Spin-Off
Earlier this month, Robin Energy’s board approved a spin-off of part of its tanker business into a new entity, AI OKTO. Shareholders are expected to receive one AI OKTO share for every 6.5 Robin shares. The new entity will hold one tanker vessel and focus on building an AI-enabled operating model.
CEO Petros Panagiotidis will lead AI OKTO after the spin-off. The company said the move will create a more focused tanker business. Separately, Robin raised $13.9 million in the first quarter of 2026 through its at-the-market (ATM) program.
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