Rubico announces up to $15 million senior convertible debt offering

Rubico plans up to $15 million in senior convertible notes, including a conditional $5.56 million second tranche. The initial $9.44 million tranche is expected to close October 19, 2026, generating $8.5 million in gross proceeds. A 10% original issue discount applies; the second tranche would raise $5 million, bringing total potential gross proceeds to $13.5 million. Unsecured notes pay 8% interest in cash or 10% in common shares; 12-month maturity is extendible to 18 months with 5% principal uplift. Initial notes have a $0.3646 fixed conversion price; accompanying five-year warrants cover 25,903,577 common shares at $0.3646 each. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Rubico Inc. published the original content used to generate this news brief via (Ref. ID: 202610161851PRIMZONEFULLFEED1001278434) on October 16, 2026, and is solely responsible for the information contained therein. (C)