Toro Corp. announces sale of LPG carrier Dream Terrax

Toro Corp. (TORO) entered into an agreement with a wholly owned subsidiary of Robin Energy (RBNE) for the sale of the Dream Terrax, a 2020-built 5,000 cbm LPG Carrier vessel for a sale price of $20M. The terms of the transaction were approved by the independent and disinterested members of the Boards of Toro and Robin, respectively, following the negotiation and recommendation by special committees of the independent and disinterested directors of the Boards of Toro and Robin. The vessel is expected to be delivered to its new owner during 2025 and is subject to the satisfaction of certain customary closing conditions.