OceanPal Inc. Announces Up to US$10 Million Share Repurchase Program
Rhea-AI Summary
OceanPal (NASDAQ: SVRN) announced a board-authorized share repurchase program to buy back up to US$10 million of outstanding common stock, commencing December 1, 2025.
The company said repurchases will be funded by premiums generated from its options strategy and that a recent PIPE transaction and strong balance sheet provide flexibility to support the program. Management framed the repurchase as part of a strategic shift toward AI-cloud infrastructure under the SovereignAI operating model and a commitment to generating shareholder value.
Positive
- Authorised repurchase of up to US$10 million
- Repurchases commence December 1, 2025
- Repurchases funded by options strategy premiums
- PIPE transaction cited as providing financial flexibility
- Strategic shift to AI-cloud infrastructure (SovereignAI)
Negative
- None.
News Market Reaction
On the day this news was published, SVRN gained 0.73%, reflecting a mild positive market reaction. Argus tracked a peak move of +5.6% during that session. Our momentum scanner triggered 7 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $309K to the company's valuation, bringing the market cap to $43M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 03 | Tender offer | Positive | +4.4% | Tender offer for 7.0% Series D preferred at $1,400 plus accrued dividends. |
| Dec 01 | Share repurchase | Positive | +0.7% | Board-authorized buyback of up to US$10 million of common stock. |
Recent capital return announcements (tender offer, buyback) were followed by modestly positive price reactions.
Over early December 2025, OceanPal (SVRN) focused on capital return actions. On Dec 1, 2025, the company authorized a share repurchase program of up to US$10 million funded by its options strategy premiums, tied to a strategic shift toward AI-cloud infrastructure. Two days later, a tender offer for 7.0% Series D preferred shares at $1,400 plus accrued dividends was launched. Both events saw positive 24-hour price reactions, indicating the market had generally welcomed these capital allocation moves.
Market Pulse Summary
This announcement detailed a board-authorized share repurchase program of up to US$10 million, funded by premiums from the company’s options strategy and supported by a recent PIPE transaction. It framed the buyback within a broader strategic move toward AI-cloud infrastructure under the SovereignAI model. Investors may focus on the actual pace of repurchases, the performance of the options strategy, and subsequent updates on the AI-cloud initiative to gauge execution.
Key Terms
options strategy financial
PIPE transaction financial
ai-cloud infrastructure technical
AI-generated analysis. Not financial advice.
OceanPal's Co-CEO, Robert Perri, commented on the news, "Establishing this repurchase program reflects our conviction in the future of our business and the intrinsic value of our stock. Our strong balance sheet and the recent PIPE transaction provide us with the flexibility we need to capitalize on several long-term growth opportunities, particularly as we pursue the large and expanding opportunity related to AI-cloud infrastructure."
Commencing on December 1st, 2025, SVRN may repurchase up to
OceanPal's recently appointed Co-CEO, Sal Ternullo, concluded, "The launch of SovereignAI marks a definitive strategic evolution for our shareholders. Unlike vehicles that offer passive exposure, our operating model enables us to utilize active management approaches including options strategies which provide yield opportunities not accessible through passive vehicles. We are excited to announce the repurchase program today to continue delivering value for our shareholders."
About SovereignAI
SovereignAI ("SVRN") is a wholly owned subsidiary of OceanPal Inc. (NASDAQ: SVRN) formed to implement the company's digital asset treasury strategy, and developer of confidential AI infrastructure offering a superior path to get exposure to the intersection of AI and blockchain in the public markets. SVRN will use NEAR Protocol's purpose-built technology to establish private, user-owned agentic commerce. Funds generated by SVRN's holistic treasury management strategy of NEAR tokens will be used to further the Company's goal of building unique blockchain-native AI infrastructure.
To learn more about SVRN, please visit: https://www.svrn.net/
About OceanPal Inc.
OceanPal Inc. is a global provider of shipping transportation services, specializing in the ownership and operation of dry bulk vessels and product tankers. OP is engaged in the seaborne transportation of bulk commodities, including iron ore, coal, and grain, as well as refined petroleum products. OceanPal'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.
Media Contact: svrn@mgroupsc.com
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements" within the meaning of the
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 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; developments in technology and the competitive landscape; the market performance of NEAR; and other risks and uncertainties described under "Risk Factors" in SVRN's Annual Report on Form 20-F filed with the SEC on April 15, 2025, and in other subsequent filings with the SEC. These filings are available at www.sec.gov. SVRN undertakes 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 law.
View original content to download multimedia:https://www.prnewswire.com/news-releases/oceanpal-inc-announces-up-to-us10-million-share-repurchase-program-302629121.html
SOURCE OceanPal Inc.
FAQ
What did OceanPal (SVRN) announce on December 1, 2025 about share repurchases?
How will OceanPal fund the SVRN share repurchase program?
Does the SVRN repurchase program state a share count or expiration date?
What is OceanPal management's rationale for the SVRN buyback program?
Will SVRN repurchases affect OceanPal's strategy toward AI-cloud infrastructure?
When can investors expect OceanPal to begin executing the SVRN buybacks?
