OceanPal announced that it has received written notification from Nasdaq dated March 27, indicating that because the closing bid price of the company’s common stock for 30 consecutive business days was below the minimum $1.00 per share bid price requirement for continued listing on Nasdaq, the company is not in compliance with Nasdaq Listing Rule 5550. Pursuant to Nasdaq Listing Rule 5810, the applicable grace period to regain compliance is 180 days, or until September 25.
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