Toro Corp rises on $19.5 mln of private stock offering

Toro

17/04/2023 18:23

** Shares of energy transportation services co Toro Corp
 TORO.O  up 29.9% at $2.91
    ** Co enters into subscription agreement with Pani Corp to
issue and sell its 8.5 mln shares at $2.29 each, for gross
proceeds of $19.5 mln; it compares with stock's Friday close of
$2.24
    ** Pani Corp is a company controlled by Toro’s chairman and
chief executive officer
    ** Transaction to close on or about April 19, 2023

 (Reporting by Vaibhav  Sadhamta)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))