Rubico is trading 32.35% down at $0.26 after announcing an $8.5 million registered direct offering of senior convertible notes and warrants. - The financing includes $9.44 million in notes with a 10% original issue discount and warrants for 25,903,577 shares; the first tranche is expected to close October 19. - Shares closed at $0.39 on October 16, after gaining 21.81% that session. Broader-market conditions are mixed.