OceanPal Inc. Announces Final Results of Tender Offer for its Series D Preferred Stock | SVRN Stock News

, /PRNewswire/ -- OceanPal Inc. ("OceanPal" or "OP", NASDAQ: SVRN), announces today the final results of its tender offer (the "Offer"), which expired at 5:00 P.M. Eastern time on January 8, 2026.Based on the final count by Computershare Trust Company, N.A., the depositary for the Tender Offer, 18,996 shares of the Company's 7.0% Series D Cumulative Convertible Perpetual Preferred Stock, par value $0.01 per share, with a $1,000 liquidation preference per share (the "Shares") have been validly tendered for purchase in the Offer and not properly withdrawn prior to expiration of the Offer. The Company expects to accept all of these Shares for purchase in accordance with the terms of the Offer at a price of $1,400 per Share plus accrued dividends, for an aggregate cost of approximately $26.9 million excluding fees relating to the Offer. The Company will promptly pay for all of the Shares accepted for purchase.Questions regarding the Offer should be directed to the information agent at (866) 486-7610. Parties outside the U.S. can reach the information agent at +1-(631) 302-5187.About SovereignAI SovereignAI is a wholly owned subsidiary of OP formed to implement the company's digital asset treasury strategy, and developer of confidential AI infrastructure offering a superior path to get exposure to the intersection of AI and blockchain in the public markets. SovereignAI will use NEAR Protocol's purpose-built technology to establish private, user-owned agentic commerce. Funds generated by SovereignAI's holistic treasury management strategy of NEAR tokens will be used to further the Company's goal of building unique blockchain-native AI infrastructure.To learn more about SovereignAI, please visit: https://www.svrn.net/About OceanPal Inc.OceanPal Inc. is a global provider of shipping transportation services, specializing in the ownership and operation of dry bulk vessels and product tankers. OP is engaged in the seaborne transportation of bulk commodities, including iron ore, coal, and grain, as well as refined petroleum products. OP's fleet is primarily employed on time charter trips with short to medium duration and spot charters, with a strategic focus on maximizing long-term shareholder value.Media Contact: svrn@mgroupsc.comCautionary Note Regarding Forward-Looking StatementsThis press release contains statements that constitute "forward-looking statements" within the meaning of the U.S. federal securities laws. Forward-looking statements are statements other than historical facts and include, without limitation, future announcements and priorities, expectations regarding management, corporate governance, market position, business strategies, future financial and operating performance, and other projections or statements of plans and objectives.These forward-looking statements are based on current expectations, estimates, assumptions, and projections, and involve known and unknown risks, uncertainties, and other factors-many of which are beyond OP's control-that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Important factors that may affect actual results include, among others, OP's ability to execute its growth strategy; its ability to raise and deploy capital effectively; developments in technology and the competitive landscape; the market performance of NEAR; and other risks and uncertainties described under "Risk Factors" in OP's Annual Report on Form 20-F filed with the SEC on April 15, 2025, and in other subsequent filings with the SEC. These filings are available at www.sec.gov. OP undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.SOURCE OceanPal Inc.