Toro Corp. Announces the Provision of a Senior Term Loan to Castor Maritime Inc. and the Increase of its Investment in Castor’s Series D Preferred Shares

Core Viewpoint - Toro Corp. has announced a $100 million senior term loan facility to Castor Maritime Inc., secured by 10 vessels valued at approximately$235 million, with a tenor of 5 years and an interest rate of SOFR plus 1.80% per annum [1] - Additionally, Toro is increasing its investment in Castor's Series D Preferred Shares by 50,000 shares for a total of $50 million, bringing its total holdings to 100,000 shares [2] Group 1: Financial Transactions - The$100 million term loan facility is secured by 10 vessels owned by Castor, which are valued at around $235 million based on third-party valuations [1] - The term loan has a duration of 5 years and an interest rate of SOFR plus 1.80$50 million in Castor's 5.00% Series D cumulative perpetual convertible preferred shares, increasing its total holdings to 100,000 shares [2] Group 2: Company Background - Toro Corp. is an international energy transportation services company with a fleet that includes tankers and LPG carriers, currently owning five vessels with a total capacity of 0.1 million deadweight tons [5] - Castor Maritime Inc. is a Nasdaq-listed maritime entity controlled by Petros Panagiotidis, who is also the CEO of Toro [3]