GREECE, June 03, 2022 – OceanPal Inc. (NASDAQ: OP) (the “Company”), a global shipping company
specializing in the ownership of vessels, today
reported net income of $414 thousand and net loss attributed to common
stockholders of $510 thousand for the first quarter of 2022. Time charter
revenues for the same period were $3.7 million.
Company declared a cash dividend on its common stock of $0.01 per share for the
first quarter ended March 31, 2022. The cash dividend will be payable on or
about June 21, 2022 to all common shareholders of record as of June 14, 2022.
The Company has 29.83 million shares of common stock issued and outstanding. Holders
of the Company’s Class A Warrants as of June 14, 2022 will also receive a cash
payment in the amount of $0.01 for each common share that such holder would be
entitled to receive upon exercise of their Class A Warrants. As of June 02,
2022 there are Class A Warrants exercisable for an aggregate of 14.47 million