Oceanpal Inc
- Market Cap (Float-Adj) (Float-adjusted market cap computed by the low-float screener — matches the screener row. May differ from the standard cap (price × all shares outstanding) reported elsewhere.)
- $14.9M
- Price
- $7.92
- % Change (Daily % change from the live per-ticker quote feed.)
- +2.19%
- Volume
- 7.4K
About
OceanPal Inc. provides ocean-going transportation services worldwide. It owns and operates dry bulk carriers that transport major bulks, such as iron ore, coal, and grains, as well as minor bulks, including steel products, cement, and fertilizers. As of December 31, 2023, the company’s fleet consists of three Panamax dry bulk carriers with a total cargo carrying capacity of approximately 223,546 dwt; and one MR2 product tanker vessel with a carrying capacity of 49,999 dwt. OceanPal Inc. was incorporated in 2021 and is based in Athens, Greece.
Quick stats
Shares outstanding1.9M
Computed float1.8M
Float / shares95.5%
Key info
SectorIndustrials
IndustryMarine Shipping
CIK (Central Index Key — the unique ID the SEC assigns to every filer. Use it to look up the company's filings on EDGAR.)0001869467
Websitehttps://www.oceanpal.com
AI Summary
AI-generated1/13
majorbullishrestructuring
OceanPal Exits Shipping, Retiring All Series C Preferred Stock and Eliminating All Outstanding Debt
OceanPal completed the sale of its vessel-owning subsidiary to Sezali Inc., officially exiting the shipping business.
The transaction eliminated all outstanding debt of $5.0 million and retired 12,185 shares of Series C Preferred Stock, resulting in a debt-free capital structure.
SovereignAI Services LLC is now the sole operating business, focusing on the NEAR Protocol treasury, with management signaling intent to repurchase shares below 0.8x mNAV.
Red flags
- Transaction involved Sezali Inc., affiliated with the Company's former Chairperson
- Forward-looking statements reference need to regain compliance with Nasdaq Listing Rule 5250(c)(1)