OceanPal Inc. Announces Reverse Stock Split to be Effective March 30, 2026

Rhea-AI Summary

OceanPal (NASDAQ: SVRN) will effect a one-for-twenty reverse stock split effective at the open on March 30, 2026, combining every 20 issued common shares into one share.

Outstanding shares will fall from approximately 37,517,290 to about 1,875,864, CUSIP Y6430L178 will be assigned, and fractional shares will be cashed out based on the March 27, 2026 closing price. The Board says the split is part of its plan to restore Nasdaq minimum bid price compliance and will be presented at a hearing before an independent Panel.

Positive

• Reverse split ratio of 1-for-20 reduces shares outstanding by ~95%
• Outstanding shares reduced to ~1,875,864 effective March 30, 2026
• Split positioned as a step to restore Nasdaq minimum bid price compliance

Negative

• Potentially reduced market liquidity due to fewer outstanding shares
• Cash payments for fractional shares could produce small cash-outs for holders
• Split does not change authorized shares or par value; no economic value increase

News Market Reaction – SVRN

+50.00%

47 alerts

+50.00% News Effect

+61.3% Peak Tracked

-22.5% Trough Tracked

+$3M Valuation Impact

$9.59M Market Cap

1.4x Rel. Volume

On the day this news was published, SVRN gained 50.00%, reflecting a significant positive market reaction. Argus tracked a peak move of +61.3% during that session. Argus tracked a trough of -22.5% from its starting point during tracking. Our momentum scanner triggered 47 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $3M to the company's valuation, bringing the market cap to $9.59M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Reverse split ratio: 1-for-20 Par value per share: $0.01 Pre-split outstanding shares: 37,517,290 shares +5 more

8 metrics

Reverse split ratio 1-for-20 Announced reverse stock split of common shares

Par value per share $0.01 Common shares par value unchanged after split

Pre-split outstanding shares 37,517,290 shares Issued common shares before reverse split

Post-split outstanding shares 1,875,864 shares Approximate issued common shares after reverse split

Effective trading date March 30, 2026 Date shares begin trading on split-adjusted basis

CUSIP Y6430L178 New CUSIP assigned when reverse split becomes effective

Cash-in-lieu pricing date March 27, 2026 Date of closing price used to value fractional share cash payments

Reverse split approval date May 20, 2025 Date shareholders approved the reverse stock split

Market Reality Check

Price: $0.3075 Vol: Volume 1,299,554 is well ...

low vol

$0.3075 Last Close

Volume Volume 1,299,554 is well below the 20-day average of 13,028,721 (relative volume 0.1), indicating muted trading interest ahead of the reverse split. low

Technical Shares trade below the 200-day moving average of 0.92, with the pre-announcement price at 0.205, reflecting a prolonged downtrend before this reverse split.

Historical Context

5 past events · Latest: Mar 13 (Negative)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 13	Nasdaq deficiency notice	Negative	-31.0%	Nasdaq staff determination to delist shares over minimum bid-price deficiency.
Feb 11	Treasury yield mandate	Positive	-9.6%	Appointment of G-20 Group to manage NEAR treasury yield strategy.
Jan 30	New audit firm	Neutral	-1.2%	Engagement of CBIZ CPAs P.C. as new independent registered auditor.
Jan 13	Preferred tender results	Neutral	-7.2%	Final results of tender offer for Series D preferred stock and cash outlay.
Dec 11	Dividend clarification	Neutral	-0.7%	Clarification of accrued dividend payment terms in preferred tender offer.

Pattern Detected

Recent news events, including Nasdaq deficiency actions and capital structure moves, have generally been followed by negative price reactions, suggesting a pattern of shareholder skepticism around corporate and regulatory announcements.

Recent Company History

Over the last several months, OceanPal (SVRN) has faced multiple capital structure and listing-compliance developments. A Nasdaq staff determination on minimum bid-price deficiency (Mar 13, 2026) coincided with a -30.97% move. Corporate actions around preferred stock tender offers in Jan 2026 and a change in auditor on Jan 30, 2026 also saw modest declines. Against this backdrop, the new one-for-twenty reverse split on Mar 30, 2026 fits into ongoing efforts to address listing requirements amid persistent price pressure.

Market Pulse Summary

The stock surged +50.0% in the session following this news. A strong positive reaction aligns with t...

Analysis

The stock surged +50.0% in the session following this news. A strong positive reaction aligns with the company’s effort to address Nasdaq’s bid-price deficiency through a one-for-twenty reverse split effective March 30, 2026. Historically, OceanPal’s regulatory and capital-structure updates have often been met with weakness, including a -30.97% move after a Nasdaq determination notice. Any sizable upside could therefore mark a departure from that pattern and might depend on confidence that reduced share count from 37,517,290 to 1,875,864 supports longer-term listing stability.

Key Terms

reverse stock split, par value, cusip number, minimum bid price requirement, +2 more

6 terms

reverse stock split financial

"determined to effect a one-for-twenty reverse stock split of the Company's common shares"

A reverse stock split is when a company reduces the number of its shares outstanding, making each share more valuable. For example, if you own 100 shares worth $1 each, a 1-for-10 reverse split would turn your 100 shares into 10 shares worth $10 each. Companies often do this to boost their stock price and appear more stable to investors.

par value financial

"common shares, par value $0.01 per share"

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

cusip number regulatory

"The CUSIP number of Y6430L178 will be assigned to the Company's common shares"

A CUSIP number is a nine-character code that uniquely identifies a specific U.S. or Canadian stock, bond, or other security, similar to a barcode or a social-security number for a financial instrument. It matters to investors because it removes confusion between similar securities, ensures trades and settlements are applied to the correct issue, and helps locate official documents and transaction records quickly.

minimum bid price requirement regulatory

"restore compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2)"

A minimum bid price requirement is a rule that a stock must trade above a set price for a specified period to stay listed on an exchange. It matters to investors because falling below that threshold can trigger warnings or removal from the exchange, which can cut liquidity, reduce visibility, and often lead to sharper declines in share value—think of it like a venue’s minimum dress code that, if not met, can bar a performer from the stage.

nasdaq listing rule 5815(a) regulatory

"requested a hearing before an independent Hearings Panel (the "Panel") pursuant to Nasdaq Listing Rule 5815(a)"

NASDAQ Listing Rule 5815(a) is a regulatory provision that allows the exchange to remove a company’s stock if it no longer meets required listing standards, such as minimum share price, market value, or financial metrics. Think of it like rules for staying in an exclusive club: falling short can lead to expulsion. For investors, a delisting can reduce liquidity, limit where the stock trades and often lowers the share price, affecting the ability to buy, sell or raise capital.

hearings panel regulatory

"requested a hearing before an independent Hearings Panel (the "Panel")"

A hearings panel is a small group of officials or experts who hold formal sessions to review evidence, question parties, and make decisions about regulatory compliance, discipline, or approvals. Think of it like a review board or courtroom for business and market issues: its findings can lead to fines, changes in a company’s permissions, or even delisting. Investors pay attention because the panel’s rulings can directly affect a company’s operations, reputation and share price.

AI-generated analysis. Not financial advice.

ATHENS, Greece, March 26, 2026 /PRNewswire/ -- OceanPal Inc. (NASDAQ: SVRN) (the "Company"), announced today that its board of directors has determined to effect a one-for-twenty reverse stock split of the Company's common shares, par value $0.01 per share. The Company's shareholders had approved the reverse stock split at the Company's annual meeting of shareholders held on May 20, 2025.

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 March 30, 2026, under the existing trading symbol "SVRN". The CUSIP number of Y6430L178 will be assigned to the Company's common shares when the reverse stock split becomes effective.

When the reverse stock split becomes effective, every twenty 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 37,517,290 shares to approximately 1,875,864 shares.

No fractional shares will be issued in connection with the reverse stock split. Shareholders who would otherwise hold a fraction of a common share of the Company will receive a cash payment in lieu thereof at a price equal to that fraction of a share to which the shareholder would otherwise be entitled, multiplied by the closing price of the Company's common shares on NASDAQ on March 27, 2026.

Shareholders with shares held in book-entry form or through a bank, broker, or other nominee are not required to take any action and will see the impact of the reverse stock split reflected in their accounts on or after March 30, 2026. Such beneficial holders may contact their bank, broker, or nominee for more information.

The Board approved the reverse stock split in connection with the Company's efforts to restore compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2). As previously disclosed, the Company received a written determination letter from the Listing Qualifications Staff of NASDAQ pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iv), and the Company has timely requested a hearing before an independent Hearings Panel (the "Panel") pursuant to Nasdaq Listing Rule 5815(a). The Company intends to present the reverse stock split as a component of its compliance plan in connection with its hearing before the Panel.

About the Company

OceanPal Inc. is a global provider of shipping transportation services, specializing in the ownership and operation of dry bulk vessels and product tankers. OceanPal Inc. is engaged in the seaborne transportation of bulk commodities, including iron ore, coal and grain, as well as refined petroleum products. OceanPal Inc.'s fleet is primarily employed on time-charter trips with short to medium duration and spot charters, with a strategic focus on maximizing long-term shareholder value.

SovereignAI Services LLC, a wholly-owned subsidiary of OceanPal fuels the growth of AI infrastructure that enables agents to act autonomously and securely. SovereignAI Services LLC actively manages a treasury of NEAR—the network powering this infrastructure—generating returns that fund universal liquidity and AI privacy technologies. The company bridges these innovations to the enterprise, driving commercial adoption so businesses can deploy AI solutions that protect sensitive data and execute complex actions across any network.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "expect," "intend," "plan," "anticipate," "believe," "will," and similar expressions. These statements include, but are not limited to, statements regarding the Company's intention to request a hearing before the Nasdaq Hearings Panel; the expected automatic stay of any suspension or delisting action pending such hearing; the Company's ability to present a compliance plan and restore compliance with the Minimum Bid Price Requirement; and the board's evaluation of potential capital markets transactions and other corporate actions. These forward-looking statements are based on current expectations, estimates, assumptions, and projections and involve known and unknown risks, uncertainties, and other factors—many of which are beyond OceanPal's and SVRN's control—that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Important factors that may affect actual results include, among others, SVRN's ability to execute its growth strategy; its ability to raise and deploy capital effectively; the outcome of the Nasdaq Hearings Panel process; developments in technology and the competitive landscape; the market performance of NEAR; and other risks and uncertainties described under "Risk Factors" in OceanPal's Annual Report on Form 20-F filed with the SEC on April 15, 2025, and in subsequent filings with the SEC, available at www.sec.gov. OceanPal and SVRN undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

View original content:https://www.prnewswire.com/news-releases/oceanpal-inc-announces-reverse-stock-split-to-be-effective-march-30-2026-302726075.html

SOURCE OceanPal Inc.

FAQ

What is the reverse stock split for OceanPal (SVRN) and when is it effective?

OceanPal is executing a one-for-twenty reverse stock split effective at the open on March 30, 2026. According to the company, every 20 issued common shares will be combined into one share and trading will be on a split-adjusted basis.

How many OceanPal (SVRN) shares will be outstanding after the March 30, 2026 split?

Outstanding shares will decrease to approximately 1,875,864 after the reverse split. According to the company, shares outstanding will fall from about 37,517,290 to roughly 1,875,864.

What happens to fractional OceanPal (SVRN) shares after the reverse split?

No fractional shares will be issued; fractional holdings will be cashed out. According to the company, payments equal the fractional share times the closing price on March 27, 2026.

Will OceanPal (SVRN) keep the same ticker and receive a new CUSIP after the split?

OceanPal will continue trading under SVRN and a new CUSIP will be assigned. According to the company, CUSIP Y6430L178 will be assigned when the split becomes effective.

Do OceanPal (SVRN) shareholders need to take action before March 30, 2026?

Most shareholders need not act; accounts will be adjusted automatically on or after March 30, 2026. According to the company, holders in brokerage or book-entry form will see the split reflected in their accounts.

Why is OceanPal (SVRN) performing the reverse stock split for March 2026?

The reverse split is intended to help restore compliance with Nasdaq minimum bid price rules. According to the company, the Board approved the split as part of its compliance plan for a Panel hearing.