SCHEDULE: Robin Energy Insider Stake Dips Below 5% After Offering

Pani Corp. and Petros Panagiotis Panagiotidis' beneficial ownership in Robin Energy Ltd. common shares decreased to 4.59% following a recent public offering.

Summary

• This Amendment No. 2 to Schedule 13D updates the beneficial ownership of Pani Corp. and Petros Panagiotis Panagiotidis in Robin Energy Ltd. common shares.
• The reporting persons' aggregate beneficial ownership decreased to 4.59% of outstanding common shares, totaling 580,405 shares.
• This reduction is solely due to Robin Energy Ltd.'s issuance of an additional 6,634,000 common shares through an underwritten public offering.
• The offering included an initial sale of 5,769,230 shares and a partial exercise of the underwriter's option for an additional 864,770 shares.
• The total outstanding common shares of Robin Energy Ltd. are now 12,628,731, calculated from 5,994,731 shares as of September 12, 2025, plus the 6,634,000 newly issued shares.
• As of September 15, 2025, the reporting persons ceased to be beneficial owners of more than five percent (5%) of Robin Energy Ltd.'s common shares.
• Petros Panagiotis Panagiotidis is the sole shareholder of Pani Corp. and also controls Pelagos Holdings Corp., which owns 40,000 Series B Preferred Shares, each with the voting power of 100,000 common shares.

Sentiment

Score: 5

Explanation: The filing is a factual compliance update regarding a change in beneficial ownership due to a company's capital raise. While the capital raise itself can be seen as positive for the company, and dilution as negative for existing shareholders, the filing's primary purpose is to report a factual change in ownership percentage, making its sentiment neutral from a reporting perspective.

Positives

• Robin Energy Ltd. successfully completed an underwritten public offering, issuing 6,634,000 common shares, which indicates successful capital raising.

Negatives

• Existing shareholders, including the reporting persons, experienced significant dilution due to the issuance of 6,634,000 new common shares.

Future Outlook

This filing does not contain explicit forward-looking statements or guidance from Robin Energy Ltd. or the reporting persons regarding future operations or financial performance, beyond the reporting of the completed share offering.

Management Comments

• "After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct." Andreas Avgousti, Director of Pani Corp.
• "After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct." Petros Panagiotis Panagiotidis

Industry Context

The completion of an underwritten public offering by Robin Energy Ltd. is a common method for companies to raise capital for various purposes, such as funding operations, expansion, or debt repayment. The resulting dilution of existing shareholders' stakes and the adjustment of significant beneficial ownership percentages are standard outcomes in such capital market activities.

Related Party Transactions

• Petros Panagiotis Panagiotidis is the sole shareholder of Pani Corp., which is a reporting person.
• Pelagos Holdings Corp., an entity controlled by Mr. Panagiotidis, owns 40,000 Series B Preferred Shares of Robin Energy Ltd.

Stakeholder Impact

• Shareholders: Experienced dilution of their ownership percentage due to the issuance of new shares.
• Company: Successfully raised capital through the public offering, which can support its operations and strategic initiatives.

Key Dates

Keywords

Robin Energy, Pani Corp, Petros Panagiotidis, Schedule 13D, beneficial ownership, share offering, dilution, common shares, SEC filing, capital raise