Toro To Acquire 2021-Built MR Tanker Vessel From Unaffiliated Third-Party For $36.25M

Toro Corp. (NASDAQ:TORO) ("Toro", or the "Company"), a global energy transportation services provider, announces it has entered into an agreement, through a wholly owned subsidiary, to acquire a 2021-built MR tanker vessel from an unaffiliated third-party for a purchase price of $36.25 million. The Company expects to fund the acquisition with cash on hand.

The acquisition is expected to conclude by taking delivery of the vessel during Q2-Q3 2025 and is subject to the satisfaction of certain customary closing conditions.