OceanPal amends effective date of reverse stock split

OceanPal announced that the Company is amending the date for its previously announced reverse stock split, which was to be effective as of the opening of trading on December 21, 2022, due to the delay in a necessary regulatory approval outside of the Company’s control, and which approval has now been obtained. The reverse stock split will take effect, and the Company’s common shares will begin trading on a split-adjusted basis on NASDAQ, as of the opening of trading on December 22, 2022, under the existing trading symbol "OP". The CUSIP number of Y6430L 160 will be assigned to the Company’s common shares when the reverse stock split becomes effective. The CUSIP number of Y6430L 152 will be assigned to the Company’s Class A Warrants when the reverse stock split becomes effective. When the reverse stock split becomes effective, every ten of the Company’s issued common shares will be combined into one issued common share, without any change to the par value per share and without any change in the total number of authorized common shares. The number of outstanding common shares will be reduced from approximately 101.8M shares to approximately 10.2M shares.