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Monday, February 13, 2023

Equity Corporate Actions Alert #2023 - 88
Information Regarding the Spinoff for Castor Maritime Inc. (CTRM)

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  • Industry Announcement

Markets Impacted:

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On November 16, 2022, Castor Maritime Inc. (CTRM) announced a spin-off of Toro Corp. The Ex-Distribution When-Issued market of Castor Maritime Inc. Common Shares (CTRMV) and the When-Issued market for Toro Corp. are expected to begin trading on Nasdaq on February 21, 2023. The details for the spin-off and when-issued markets are as follows:

Parent Company/Issue: Castor Maritime Inc. Common Shares
CUSIP: Y1146L125
Symbol: CTRM
Record Date: February 22, 2023
Payment Date: March 7, 2023
EX Date: March 8, 2023
Due Bill Redemption Date: March 9, 2023
Ratio of Spin-Off/ Distribution:
 One (1) share of Toro Corp. Common Shares for each ten (10) shares held.

An EX-distribution when issued market will be established for Castor Maritime Inc. Trades in the EX-distribution when issued market will not carry due-bills for the spin off/distribution. The details for the EX-Distribution When-Issued market are as follows:

Symbol: CTRMV
CUSIP: Y1146L133
First Trade Date: February 21, 2023
Suspension Date: March 8, 2023
Settlement Date: March 10, 2023

A when-issued market will be established for the shares of Toro Corp. (TOROV). This symbol will change to TORO on March 8, 2023; (the Ex-Date). The details for the when issued market are as follows:

Symbol: TOROV
CUSIP: Y8900D108
First Trade Date: February 21, 2023
Regular Way Trading Begins: March 8, 2023
Settlement Date: March 10, 2023

For information regarding this announcement, contact Nasdaq Corporate Data Operations at +1 877 308 0523.

If you would like to register as a market maker in CTRMV or TOROV contact Nasdaq Trading Services at +1 212 231 5100.

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