#Greece #Athens #SovereignAI #OceanPal Inc #Series D Preferred

OceanPal Inc. Announces Accrued Dividend Payment in Tender Offer

On December 11, 2025, OceanPal Inc., known as OceanPal or OP and trading on NASDAQ under the ticker SVRN, revealed significant news regarding its ongoing commitment to shareholders. The company is conducting a tender offer aimed at purchasing all outstanding shares of its 7.0% Series D Cumulative Convertible Perpetual Preferred Stock. This move is part of OceanPal's strategy to bolster returns to its investors.

The tender offer presents investors with a price of $1,400 per share, which also includes accrued dividends. As of the settlement date of the offer, the accrued dividends payable per share is anticipated to be $16.33. This figure is noteworthy, particularly when compared to the $17.50 dividend that was disbursed for the prior period running from July 15 to October 14, 2025, on October 15, 2025. This careful structuring showcases OceanPal's proactive approach to financial management and shareholder engagement.

This tender offer is being conducted under specific terms and conditions detailed in the official documents submitted to the Securities and Exchange Commission (SEC). While the announcement clarifies the figures related to dividends and share prices, it does not alter any key aspects of the offer, such as the total number of shares sought or the overall offer period. This specificity aims to enhance transparency and ensure that shareholders are well-informed.

Those interested in the detailed terms of the offer will receive copies of the relevant documents mailed directly to shareholders, while additional copies can also be procured at the company's expense through their designated information agent. For inquiries pertaining to the tender offer, the information agent can be contacted at (866) 486-7610 within the United States, or at +1-(631) 302-5187 for international queries.

About SovereignAI

SovereignAI operates as a wholly-owned subsidiary of OceanPal, focused on implementing its digital asset treasury strategy. This subsidiary is at the forefront of developing innovative confidential AI infrastructure, marrying the fields of artificial intelligence and blockchain in the public markets. Utilizing NEAR Protocol's specialized technology, SovereignAI aims to create a platform for user-owned agentic commerce, with plans for furthering its treasury strategy through NEAR token management for establishing unique blockchain-oriented AI infrastructure.

About OceanPal Inc.

OceanPal Inc. stands out as a leader in global shipping transportation services, emphasizing the ownership and operation of dry bulk vessels and product tankers. The company is deeply involved in the maritime transport of bulk commodities including iron ore, coal, and grain, alongside refined petroleum products. With a strategic focus on maximizing long-term shareholder value, OceanPal primarily employs its fleet on time charters of varying duration, alongside spot charters that allow greater flexibility in operations.

As OceanPal undertakes this tender offer, it showcases its intent not just to engage more deeply with its investors but also reaffirm its fiscal responsibility and commitment to maintaining a competitive edge in a dynamic shipping market. The upcoming months will be pivotal for both the company itself and its investors, as market conditions and strategic initiatives evolve in the face of ongoing global economic changes.

Forward-Looking Statements

It's critical to note that this announcement contains forward-looking statements as defined by U.S. federal securities laws. These statements include expectations on future corporate priorities, governance, market positioning, and overall business strategies. Such declarations inherently involve risks and uncertainties that could cause actual results to differ significantly from those anticipated. Key factors influencing results include the execution of growth strategies, the effective deployment of capital, and developments within the technology landscape.

In conclusion, OceanPal’s initiative in announcing accrued dividends emphasizes its commitment to enhancing shareholder value, while also paving the path for ambitious projects under SovereignAI, positioning the company for future growth within a competitive landscape.