Toro sets Oct. 1 record date for AI OKTO spinoff distribution

Toro Corp. (NASDAQ:TORO) has announced that October 1, 2026 will be the record date for the spinoff of its subsidiary AI OKTO CORP. The distribution of AI OKTO shares is expected to take place on or around October 8, 2026, based on a press release. As per the terms, Toro shareholders will receive one AI OKTO common share for every eight Toro common shares they own as of the close of business on the record date.

The distribution is contingent upon the successful registration of AI OKTO’s Form 20-F with the Securities and Exchange Commission and the approval of the Nasdaq listing. Although the company has no guarantee that the distribution or spinoff will happen, it remains confident in the timeline. Toro's shares will be traded with a due bill from the record date until the distribution date, per Nasdaq's protocols.

Shareholders need to retain their Toro shares until the distribution date to receive the AI OKTO shares. Any buyers who purchase Toro shares during this due bill period will be eligible for the spinoff distribution, while sellers of shares during this period will not receive the distribution on the shares they sold. Toro operates a fleet of oceangoing vessels, including four MR tanker vessels and two LPG carriers, transporting refined petroleum products and petrochemical gases globally.

The company is registered under the laws of the Republic of the Marshall Islands. Further details about AI OKTO and the proposed spinoff transaction can be found in the Form 20-F registration statement submitted to the SEC. This report was AI-assisted and subsequently reviewed by an editor.