- Castor Maritime ( NASDAQ: CTRM ) said it had revised the record date for the spin-off of its subsidiary Toro Corp to February 22, and it now expects to complete the distribution of Toro common shares in March 2023.
- Under the spin-off, Castor shareholders will receive one common share of Toro for every ten Castor common shares held at the close on December 6.
- The Company had earlier said it expects the spin-off and distribution to Castor holders of common shares on the record date of December 6 to occur by mid-January.
- In Nov , Castor announced it will effect a spin-off of its tanker fleet comprising one Aframax, five Aframax/LR2 and two Handysize tankers.
- ( CTRM ) is trading ~6% higher premarket.
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Castor Maritime revises record date for spin-off of its tanker fleet to Feb. 22