OceanPal Inc.

OceanPal Inc. announced its complete exit from the shipping business by selling OP Vessel Holdco LLC, its vessel-owning subsidiary, to Sezali Inc. The transaction involved the retirement of all 12,185 shares of its 8.0% Series C Cumulative Convertible Perpetual Preferred Stock and the cancellation of $5.0 million in promissory notes. This move eliminates all debt and simplifies the capital structure, allowing the company to focus solely on its SovereignAI Services LLC business, which is centered on the NEAR Protocol blockchain and AI infrastructure.

OceanPal Inc. announced the results of its 2026 Annual General Meeting of Shareholders held on June 16, 2026. Shareholders approved the amendment to the company's Articles of Incorporation to change its name from "OceanPal Inc." to "SVRN, Inc." Additionally, two Class II Directors were elected to serve until the 2029 Annual Meeting, and CBIZ CPAs P.C. was approved as the independent auditors for the fiscal year ending December 31, 2026.

OceanPal Inc. announced it received a Nasdaq delinquency notification on May 19, 2026, due to its failure to timely file its Annual Report on Form 20-F for the fiscal year ended December 31, 2025. This notification does not immediately impact the listing or trading of the company's common shares on the Nasdaq Capital Market. OceanPal has 60 calendar days, until July 20, 2026, to submit a plan to regain compliance, with a potential extension until October 27, 2026, and intends to resolve the issue promptly.

OceanPal Inc. announced its inability to file its Annual Report on Form 20-F for the fiscal year ended December 31, 2025, within the prescribed extension period. This delay is attributed to an ongoing review of certain accounting matters, which the company had previously disclosed. OceanPal Inc. stated its commitment to diligently complete and file the Form 20-F as soon as practicable.

OceanPal Inc. announced its 2026 Annual General Meeting of Shareholders will be held on June 16, 2026, at 11:00 a.m. Eastern Time in New York. Shareholders of record as of May 8, 2026, are entitled to vote. Key proposals include the election of two Class II Directors, a proposed name change to "SVRN, Inc.", and the appointment of CBIZ CPAs P.C. as the independent auditor for fiscal year 2026.