Pani Corp. and CEO Panagiotidis Report 74.2% Control of AI OKTO After Spin-Off
AIOK is trading near its 52-week low of $3.9 (6.4% above the low) on light trading volume (0.1× avg).
Summary
Pani Corp. and CEO Petros Panagiotidis disclosed 74.2% beneficial ownership of AI OKTO, the LPG carrier spin-off from Toro Corp. that began trading October 8, 2026. A separate preferred class gives the same controller voting power equal to roughly 4 billion shares.
Key Events · Ownership and Investor Activity · AIOK
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74.2% Stake Disclosed After Spin-Off
Pani Corp. and Petros Panagiotidis jointly report 3,206,185 common shares, or 74.2% of the 4,319,916 shares outstanding, received in the October 8, 2026 spin-off from Toro Corp.
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Preferred Class Concentrates Voting Power
Pelagos Holdings, controlled by Panagiotidis, holds 40,000 Series B Preferred Shares, each with the voting power of 100,000 shares — about 4 billion votes versus roughly 1.1 million public shares.
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Toro Retains Convertible Preferred
Toro owns 5,000,000 Series A Preferred Shares (1.00% non-cumulative dividend on a $5.00 stated amount), convertible into units of two common shares after the third anniversary.
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Reporting Persons May Buy or Sell
The filing states the reporting persons may acquire or dispose of shares in the open market, block trades, underwritten offerings or private transactions, with no transactions in the past 60 days.
Analysis · AIOK · Energy & Transportation
This is the first hard ownership disclosure for AI OKTO, which began trading on Nasdaq on October 8, 2026 after being spun off from Toro Corp. Pani Corp., wholly owned by Chairman and CEO Petros Panagiotidis, holds 3,206,185 shares, or 74.2% of the 4,319,916 shares outstanding. Layered on top is a second control mechanism: Pelagos Holdings, also controlled by Panagiotidis, holds 40,000 Series B Preferred Shares, each with the voting power of 100,000 shares — roughly 4 billion votes against a float of about 1.1 million shares. Toro separately holds 5,000,000 Series A Preferred Shares convertible into units of two shares after the third anniversary. The practical effect is that public shareholders have essentially no influence over corporate actions, and the free float is thin enough that the $4.15 quote can move on very little volume. The filing also states the reporting persons may buy or sell shares in the open market or in private transactions, so the overhang cuts both ways.
How filings like this one have moved
In the 30 days to Oct 16, 2026, 29.4% of the 1487 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.39%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, AIOK was trading at $4.15 on NASDAQ in the Energy & Transportation sector. The 52-week trading range was $3.90 to $10.95. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.