OceanPal Inc. Completes Tender Offer for 18,996 Shares at $1,400 Each, Totaling $26.9 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 13 2026
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Source: PRnewswire
- Tender Offer Results: OceanPal announced the final results of its tender offer that expired on January 8, 2026, with 18,996 shares validly tendered, reflecting the company's commitment to optimizing its capital structure.
- Repurchase Price Set: The company will repurchase these preferred shares at a price of $1,400 each, totaling approximately $26.9 million, indicating a proactive strategy in liquidity management.
- Enhancing Shareholder Value: Through this repurchase, OceanPal aims to enhance shareholder value and bolster market confidence in its future growth potential while optimizing capital allocation.
- Digital Asset Strategy: OceanPal's wholly-owned subsidiary, SovereignAI, will leverage NEAR Protocol technology to advance the company's digital asset treasury strategy at the intersection of AI and blockchain, further enhancing its market competitiveness.
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About SVRN
Oceanpal Inc is a Marshall Islands-based provider of ocean-going transportation services. The Company is engaged in the ownership, operation, and chartering of dry bulk vessels. The Company's fleet consists of 3 dry bulk vessels, including one Capesize and two Panamax vessels.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
OceanPal Appoints CBIZ as New Auditor
- Auditor Change: OceanPal Inc. has appointed CBIZ CPAs P.C. as its new independent registered public accounting firm effective immediately, following a comprehensive evaluation by the Audit Committee aimed at enhancing financial transparency and compliance.
- Predecessor Resignation: CBIZ CPAs replaces Ernst & Young (Hellas) Certified Auditors Accountants S.A., which resigned on October 28, 2025; the Board confirmed that this change was not due to any disagreements on accounting principles or auditing procedures, ensuring stability in corporate governance.
- Company Overview: OceanPal Inc. specializes in the ownership and operation of dry bulk vessels and product tankers, focusing on the seaborne transportation of commodities like iron ore, coal, and grain, with a strategic emphasis on maximizing long-term shareholder value.
- SVRN Subsidiary Performance: As a subsidiary of OceanPal, SVRN has raised $120 million and disclosed NEAR holdings exceeding $133 million, driving the growth of AI infrastructure and enhancing the company's market competitiveness and financial stability.
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OceanPal Appoints New Auditor CBIZ CPAs
- Auditor Change: OceanPal Inc. announced the appointment of CBIZ CPAs as its new independent registered public accounting firm, replacing Ernst & Young (Hellas), which resigned on October 28, 2025, reflecting the company's ongoing commitment to audit compliance.
- Board Decision: The auditor change was approved by the Board of Directors following a comprehensive evaluation by the Audit Committee, indicating a transparent and responsible decision-making process regarding audit matters.
- Business Context: OceanPal specializes in the ownership and operation of dry bulk vessels and product tankers, focusing on the seaborne transportation of bulk commodities such as iron ore, coal, and grain, ensuring its competitiveness in the global shipping market.
- Subsidiary Development: OceanPal's subsidiary SVRN focuses on the growth of AI infrastructure, having raised $120 million and holding over $133 million in NEAR assets, showcasing the company's strategic positioning in technology innovation and market expansion.
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